Preheat a saute pan over medium-high heat.
1.Add the pancetta and cook until browned. Remove some of the fat from the pan and reserve the fat for the scallops. Return the pan to the heat.
2.Place another saute pan over medium-high heat and place a tablespoon of the olive oil and a little of the reserved pancetta fat to the pan. Season the scallops with salt and pepper. Place the scallops in the pan and cook for about 3-4 minutes turning the fire down to low medium. Turn when golden and cook on the second side for about 3 minutes longer.
3.While the scallops are being seared, add the morels and one tablespoon of butter to the pancetta, still over medium-high heat. Add the sweet peas and the herbs. Toss and season.
4.Place a spoonful of the ragout on a small plate and one scallop on top of that