Add in the remaining olive oil to the skillet and the onion, carrots, celery, cooking until soft, about 10-15 minute. Once soft, add the garlic, flour, and tomato paste and combine thoroughly, then add the beef back into the pan. Pour in the red wine, beef stock, Worcestershire sauce, thyme sprigs, and bay leaves. Bring the mixture to a simmer and cook for about 45 minutes until thickened, stirring every few minutes. Season well with salt and pepper.