Heat olive oil in a large sauté pan over medium-high heat. Sear the beef tips well on all sides, cooking for 5 to 8 minutes.

Add onions, mushrooms, flour, and tomato paste. Stir well to combine and cook for an additional 5 to 6 minutes. Add wine, stirring to loosen browned bits off the bottom of the pan. Stir in salt, pepper, bay leaves, and beef broth.

Cover with tight-fitting lid and reduce heat to low; simmer about 45 minutes, stirring occasionally.

Remove from heat and stir in butter. Serve immediately.

Note: Serve over egg noodles, rice, or mashed potatoes.