Place shallot, jalapeño and garlic in a food processor, and process until  finely chopped.

Add oregano, red wine vinegar and seasonings. Pulse couple more times until blended.

Then add parsley and cilantro. Process until herbs are chopped into small pieces, but not completely smooth. (TIP: over-processing parsley will make the sauce too bitter.)

While processor is running, pour in olive oil. (NOTE: Again, don't run the processor for too long, because the oil will break down too much and the sauce can get overly bitter.)

Cover and let it marinade for at least an hour. Refrigerate it, if not using right away. Bring it to room temperature before serving.