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1
In a heavy saucepan, bring the stock to a slow, steady simmer over moderate heat.
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2
Lower the heat and maintain the simmer.
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3
Cut the asparagus tips to 1-inch and set aside.
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4
Cut the remaining asparagus into 1/2-inch pieces.
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5
Trim the stems from the morels and reserve them for another use (in stocks or soups).
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6
Brush any debris from the morels and, if they are very large, cut them in half.
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7
Heat the oil and butter in a heavy-bottomed, broad, medium saucepan over moderately-high heat.
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8
Stir in the onions and saute for about 5 minutes, or until translucent.
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9
Add the asparagus stalks and the morels and saute for about 1 minute, or until they are well-coated with the fat.
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10
Add the rice and saute for a few minutes to thoroughly coat the grains with the fat.
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11
Add 1 cup of the simmering stock and cook, stirring constantly with a wooden spoon, until all of the liquid has been absorbed by the rice, about 5 minutes.
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12
As each addition is absorbed, continue stirring and adding stock, 1/2 cup at a time, until the rice is tender but still al dente.
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13
You should begin tasting the rice after it has cooked for about 20 minutes.
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14
Just before the rice is ready, stir in the reserved asparagus tips, 1/2 cup of the cheese and the parsley.
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15
Season with salt and pepper.
