Preheat the oven to 400 degrees F.

Heat the oil and melt the butter in a large skillet, over medium-high heat. When the butter has melted and starts to foam, add the shallots and season with salt and pepper, to taste. Cook the shallots until they begin to brown, about 3 minutes.

Add the mushrooms and thyme, cook stirring occasionally until the liquid has evaporated and the mushrooms are caramelized; about 5 to 7 minutes. Add the minced garlic and cook for 1 minute, stirring constantly. Remove from heat and set aside.

Place the flatbreads onto a large baking sheet. Spread 2 tablespoons of the ricotta cheese onto each flatbread. (The back of a spoon works best for spreading out the cheese.)

Bake in the oven for 6 to 8 minutes or until the cheese has melted and starts to brown.