Preheat the oven to 325 degrees. Heat 1 tbsp oil over high heat. Add bacon and cook about 4-5 minutes. Remove and place on paper towel to soak up some of the excess fat.

In the same pan, sear the beef cubes (be sure to pat them dry first so that they sear easier). Season with salt and pepper. Brown the beef cubes on all sides. Remove from the pan and set aside. Drain most of the liquid from the pan. Add in the carrots, onion and garlic. Cook until slightly tender and slightly browned. Return the beef and garlic to the pan. Add in the flour and mix well. (This will help to create a thick sauce). Deglaze the pan with the wine, and add in the stock, making sure to almost fully cover the beef. Add tomato paste and herbs and mix well. Bring to a simmer, cover and put into the preheated oven for about 1-2 hours until the beef is tender.

In the meantime, prepare the onions and mushrooms.
Heat 1 tbsp oil and 2 tbsp butter in a large pan. Add the mushrooms and sauté until golden brown and softened; remove from the pan.
In the same pan, heat another ½ tbsp. oil and 1 tbsp butter. Add the onions and sauté until browned. Transfer to the oven and cook about 20-25 minutes, or until tender.

Remove the stew from the oven when the meat is tender. Strain the meat and veg from the liquid. Skim the fat of the liquid (either with a ladel or a paper towel), and put back on the heat. Bring to a simmer and reduce until the desired consistency.

*To thicken, boil to reduce the liquid.
* To thin out, add more stock.

Arrange meat, mushrooms, and onions on your serving platter and pour the sauce on top. Serve with rice, pasta or egg noodles.