Step 1: Prepare the Seafood

Rinse the shrimp and lobster tails under cold water and pat dry. Cut the lobster tails in half lengthwise with kitchen shears or a sharp knife. Season the shrimp and lobster lightly with salt and black pepper, then set aside.

Step 2: Sauté the Vegetables

In a large, heavy-bottomed pot or Dutch oven, heat the olive oil and butter over medium heat. Add the onion, carrot, celery, and bell pepper. Sauté for 5-7 minutes, or until the vegetables are softened and fragrant. Add the minced garlic and cook for another 1-2 minutes, stirring frequently.

Step 3: Add the Spices

Sprinkle the smoked paprika and red pepper flakes (if using) over the sautéed vegetables. Stir constantly for 1 minute to toast the spices and enhance their flavors.

Step 4: Build the Broth

Pour in the diced tomatoes (including their juice), seafood stock, and white wine. Add the thyme, bay leaf, and a pinch of salt and black pepper. Stir well to combine. Bring the mixture to a simmer and let it cook for 10-15 minutes, allowing the flavors to meld together.

Step 5: Cook the Lobster

Nestle the lobster tails into the simmering broth, cut side down. Cover the pot and let the lobster cook for 5-7 minutes, or until the meat is opaque and cooked through. Carefully remove the lobster tails and set them aside.

Step 6: Add the Shrimp

Add the shrimp to the pot, stirring gently to ensure they are submerged in the broth. Cook for 3-4 minutes, or until the shrimp are pink and opaque.

Step 7: Add the Cream and Lemon Juice

Stir in the heavy cream and lemon juice, mixing until the broth is smooth and creamy. Taste the stew and adjust the seasoning with more salt, pepper, or lemon juice as needed.

Step 8: Serve

Return the cooked lobster tails to the pot for presentation or serve them on top of individual bowls of stew. Garnish with fresh parsley or other desired herbs, and serve immediately with crusty bread or a baguette on the side.