In a large pot heat enough oil to coat the bottom until the oil starts to smoke. Sear meat on all sides until deep brown. Remove meat from pot and drain on paper towels.

Remove excess fat from pot. Add butter to pot and saute onions and carrots together until slightly brown. Add tomato paste and cook for 1 minute. Dust vegetables with flour and cook for 2 minutes.

Add broth. Add potatoes, thyme and bay leaf and bring to boil. Add browned meat, reduce to simmer and cook until meat is tender-approximately 45 minutes.

Slowly add beer, to taste, to pot while mixing with wooden spoon.