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Heat a medium soup pot over medium-high heat. Add the olive oil and butter. Add veggies, bay leaf, salt, pepper and Old Bay Seasoning. Cook for 5 minutes. Add flour and cook for 1 minute. Add the sherry and cook for 1 minute. Add chicken stock and bring to a bubble. Arrange the seafood in an even layer around the pan. Cover and cook for 4 minutes. Add milk and cook for 2 to 3 minutes longer. Add cayenne pepper. Discard the bay leaf.
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