Heat olive oil over medium-high heat in a large heavy-bottomed pot with a lid.
Add diced pancetta and render until golden brown and slightly crisped.
Meanwhile, combine Parmesan cheese, oregano, red pepper flakes, and garlic powder in a small bowl, and set aside.
When the pancetta is ready, drop three kernels into the oil, and wait for them to pop.
Once the test kernels pop, remove the pot from the heat, stir in the popcorn and shake gently, to coat in oil and pancetta.
Place popcorn back over medium high heat and cover with lid.
Shake the pot until there are several seconds between each pop.
Remove from heat, and remove the lid carefully: there will be steam.
To season, pour half of the popcorn into a large bowl. Drizzle with half of the melted butter and half of the seasoning blend, and then toss to coat. Repeat with the remaining popcorn, butter, and seasoning.