Preheat the oven to 170°C (325°F/gas mark 3).
• Heat half of the butter and oil in a large frying pan.
• Add the shallots and fry until they are just beginning to brown, then tip in the pancetta or bacon and fry until lightly browned. Transfer to a plate with a slotted spoon.
• Place the beef pieces in a ziplock bag with the seasoned flour. Shake until well coated, then remove, shaking off any excess. Add to the frying pan and fry until lightly golden on all sides.
• Transfer to a casserole with a lid.
• Add a little of the red wine to the frying pan and scrape the bottom to remove any sediment, then pour this on top of the beef with the rest of the red wine and the stock, carrots, celery, bay leaves and thyme.
• Add the sautéed shallots and pancetta and season to taste. Stir to combine, then cover with a lid and place in the oven for 2 hours, until the meat is tender but still holding its shape.
• Halfway through cooking, heat the remaining oil and butter in a large frying pan and cook the mushrooms until just tender and lightly browned, stirring.
• Add the brandy and cook for another few minutes, then stir into the casserole and return to the oven for the remaining cooking time.
• When the beef bourguignon is ready, season to taste and garnish with the thyme leaves. Serve straight to the table with a separate bowl of crusty French bread to hand around.
