Bring half the olive oil to sizzling point in the casserole pan and sear the beef, a few pieces at a time, to a rich dark brown on all sides. Using a slotted spoon, transfer the meat to a plate as it browns. Next add the sliced onion to the casserole pan and brown that a little too.

Pour the rest of the olive oil into a small frying pan and fry the shallots and bacon to colour them slightly. Add to the casserole pan, together with the mushrooms, put the lid on and cook for a further hour.