Preheat the oven to 180℃/350℉.
Bring a large pot, or oven proof Dutch oven/pot, to a medium-high heat. Add the oil and bacon and sauté until browned. Remove the bacon and set aside.
In the same pot, add the beef and brown on all sides. Remove the beef and set aside. Notes: the beef does not need to be fully cooked, just browned.
Reduce the heat to medium, and to the same pot, add the onions, carrots and mushrooms. Sauté until the vegetables start releasing some moisture and gently loosen any flavour sticking to the base of the pot.
Add the garlic, thyme, bay leaves, Dijon mustard and tomato paste. Sauté for about 2 minutes or until the tomato paste starts to darken slightly.
Add the butter and flour. Saute until the flour starts to brown lightly, about 2 minutes. Note: be careful to not let the flavours at the base of the pot don't darken too much or burn.
Add the beef and bacon back in and stir. Then add the wine, beef stock and 1 tsp salt. Stir and loosen any flavour that might be sticking to the base of the pot.
Cover and place the pot in the oven. Bake for 90 minutes. Note: You can finish off the stew on the stove top, just reduce the heat to low and simmer for 75-90 minutes. While the stew is in the oven/stovetop you can prepare the mash or starch of your choice.
Add any additional slat if needed and serve with mash, crusty bread, rice or pap and garnish with freshly chopped parsley - te lekker!