In a hot casserole pot, brown the beef in 1 Tbsp of the butter and the vegetable oil.
Remove and saute the onions, garlic, and carrots in the remaining butter until lightly browned.
Put the beef back in the pan and add the tomato paste, browning slightly.
Add the flour and stir until everything is well coated, cooking for 1 minute.
Gradually stir in the red wine and beef stock until the mixture is smooth and bring to a simmer.
Add the mushhrooms, thyme and bay leaf.
Cover with a lid and cook at a low heat (barely simmering) for 1½ - 2 hours adding more liquid occasionally, if necessary.The pot can also be placed in the oven to cook.
Season to taste with salt and pepper.
Sprinkle with chopped parsley to complete presentation.
Although not classical, ther ingredients may be added to the stew during cooking such as potatoes, green beans......or dumplings! Additional vegetables can be scattered on top for an attractive presentation.