Preheat your oven to 350°F (175°C).

In a skillet, heat the olive oil over medium heat. Add chopped shallots and sauté until softened, about 3-4 minutes.

In a large mixing bowl, combine cream cheese, sour cream, Cheddar cheese, lemon juice, Old Bay seasoning, chives, parsley, salt, pepper, lobster meat, and sautéed shallots. Mix until creamy.

Transfer the mixture into a greased baking dish, spreading it out evenly.

In a small bowl, mix Panko breadcrumbs with melted butter until coated.

Sprinkle the Panko mixture over the dip. Bake for 25 minutes until hot and golden brown.

Let cool slightly before serving warm with crackers or toasted bread.