In a large heavy bottomed saucepan over medium heat add 1/4 cup of oil and heat until smoking. Add the diced bacon and cook until crisp. Remove from the pan and drain well on paper towels. Set aside.
Season the chicken with salt and pepper and dredge in flour, beginning with the chicken drumstick. Reserve leftover flour.
Put them into the hot bacon oil and sear until golden brown and continue this method for the chicken thighs, and then the breast. When all is done, remove from the saucepan to a plate and add the garlic and onions and continue to cook until onions are translucent. Stir in remainder of the flour, to make a roux.
Add the tomato paste and stir over low heat. Gradually begin to add the wine and stock until the sauce begins to thicken, stirring constantly. Repeat the process until all the wine and stock have been used, (if more liquid is needed add cold water).
Return all the seared chicken to the saucepan, add the fresh herbs, pearl onions, carrots and mushrooms and bake in the oven until the chicken is thoroughly cooked, about 1 hour. Remove the pan from the oven, and transfer the chicken to a serving platter, then put the saucepan over low heat. Reduce the sauce for about 20 minutes and remove any excess fat.
Return the chicken to the sauce and reheat for 3 minutes. To finish, garnish with the reserved bacon and freshly chopped parsley.