Pre-heat the oven to 150° C.
Heat the groundnut oil in a large casserole dish over a moderate heat until hot. Season then seal the pieces of stewing beef until golden in colour all over. Remove from the dish and deglaze the base with the wine. Reduce by half, then reduce the heat to medium and add the beef, carrots, parsnips and beef stock to the dish. Add the bay leaf, thyme sprigs and parsley stalks and bring the stew to the boil.
Cover and transfer to the oven. Cook for 70-80 minutes in the oven until the beef is soft and tender. Remove from the oven and adjust the seasoning as necessary before serving from the dish.
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