In a skillet brown chorizo in olive oil on medium heat. Cover and and cook thoroughly. Turn it a few times while cooking to allow for even browning and cooking on all sides. Depending on the thickness of the chorizo this may take 10-20 minutes.
Remove from the pan and place on a cutting board. Allow to cool for about 15-20 minutes. Pour off the excess grease from the pan while it is still warm. Leave a small amount of the grease in the pan for cooking later. (1-2 Tbsp)
When cool slice in ¼" slices on a bias.
Toss chorizo pieces back in the skillet on medium high, add the shallots and brown the sliced piece slightly. You want a little caramelization on the sliced sides of chorizo.
Slowly add the wine scraping up bits with a wooden spoon. This will deglaze the pan and add some lovely flavor to the sauce.
Add the bay leaf. Turn down heat to medium low and allow to simmer for about 10 minutes.
If serving individual portions, arrange 3-4 pieces of chorizo on each plate. Spoon sauce over them.
Serve with toast triangles and sprinkle with parsley.