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Place the meat in a glass bowl and pour over the red wine. Cover and marinate overnight in the fridge.
The next day, bring meat back to room temperature, then drain and pat dry reserving wine. Preheat the oven to 150°C. Toss the drained beef with the flour, shaking off any excess. Heat 11/2 tbs oil in a large flameproof casserole and fry the beef, in small batches, until browned all over. Set beef aside. Add another 1 tbs oil to the casserole with the pancetta and cook, stirring occasionally, for 2-3 minutes until starting to crisp. Add garlic, leek and carrot, then cook, stirring, for 2-3 minutes until golden, then stir in the beef.
Pour in the stock and reserved wine (if the beef is not completely covered, top up with water). Add the thyme and bay leaves, season well and bring to a simmer. Cover and transfer to the oven to slow-cook for 21/2 hours.
Meanwhile, blanch eschalots in boiling, salted water for 6 minutes, then drain.
Remove the casserole from the oven, stir in the eschalots and return to the oven, uncovered, for a further 30 minutes or until the meat is tender and cooked, and the sauce is rich and thick.
Sprinkle beef bourguignon with parsley and serve with steamed vegetables and buttered potatoes.