Step 1

Heat a large pot or skillet over medium heat. Add vegetable oil. When oil is hot, add beef. Lightly brown beef chunks on all sides. Add onion and bell pepper; cook, stirring occasionally, for 5 minutes. Stir in garlic, dried oregano, salt and pepper. Continue to cook for 2 minutes stirring occasionally.

Step 2

Stir in beef stock and bay leaf; bring to a low simmer. Cover and simmer over low heat until beef is tender, about 1 1/2-2 hours.* Remove a portion of the beef; shred apart then return to stew. (A potato masher could also be used to mash the meat apart while in the pot.)

Step 3

Add cold water to a small measuring cup or mixing bowl. Whisk in cornstarch until thoroughly blended. Slowly stream cornstarch mixture into stew, stirring until combined. Simmer for another 15 minutes. Stew will thicken. Salt and pepper to taste.

Step 4

Serve warm over cooked rice.