In a large heavy pot, heat oil on medium heat then sauté bacon until lightly crisp and set aside.
Add beef to the pot in batches, browning on all sides ((don’t overcrowd). Set aside with the bacon.
Add onions and carrots to the pot and sauté until softened, about 3 minutes. Add garlic and lightly brown. Drain any excess fat.
Add bacon and beef back to the pot. Season with salt and pepper, add tomato paste, then sprinkle in the flour and stir. Cook for 4-5 minutes.
Add beef stock and wine, just covering the meat and vegetables. Add the bouquet garni and pearl onions. Give it a stir and cover. Bring to a boil then simmer on low heat stirring occasionally for 1-1/2 to 2 hours, or until the meat is fall-apart tender.
About 10 minutes before the stew is done, prepare the mushrooms. Melt butter in a sauté pan and add mushrooms with salt & pepper, cooking until they’ve browned.
Add to the stew and adjust seasoning as needed. Let simmer 5-10 minutes more, remove the bouquet garni, and serve.
Notes
Remember: Never use a wine that you wouldn't enjoy drinking. It's got to be a good one!