Preheat oven to 425 degrees. Line a baking sheet with parchment paper or aluminum foil.
In a bowl, stir together butter, olive oil, garlic powder, basil, parsley, oregano, salt and pepper until a smooth paste forms.
Spread butter mixture evenly on both halves of bread.
In a bowl, combine mozzarella and Parmesan cheese.
Top each bread half with cheese. Bake for about 15 minutes, until cheese is melted and lightly browned in spots. Let cool for a few minutes before slicing, then enjoy warm.
