Beef Marinade: Cut the beef into 6cm squares and 6mm thick. Place the cut beef in a glass bowl then add the thyme, bay leaves and parsley then pour over the olive oil and red wine. Marinate for at least 3 to 6 hours.
Stew: Remove the meat from the marinade with a slotted spoon and set aside. Strain the liquid of the herbs and onion, reserving the liquid.
Heat a heavy based saucepan with about 3 litres capacity over a low heat with the dripping. Melt the bacon then add the onions and let them brown slowly over the low heat. Remove the bacon when the fat becomes transparent and the onions when they are nicely browned.
Add the meat to the saucepan and cook on a high heat until browned on all sides. Turn the temperature down to medium and add the flour stirring so it amalgamates with the fat.
Pour the reserved marinade liquid into the saucepan. Let it bubble for about 30 seconds than add the meat stock.
Tie the thyme, parsley and bay leafs together with a thread, then add to the saucepan. Add a close fitting lid then simmer over the stove top for 2 hours.
Cook the mushrooms briefly; about a minute.
Add the bacon, onion and mushrooms to the saucepan then cook for another 30 minutes before serving.