In a shallow dish, stir together flour, salt, and black pepper. Dredge meat in seasoned flour. In a large skillet, melt butter with oil over medium heat. Brown meat. Remove meat from pan, and set aside.
Add onion, carrots, celery, and garlic to drippings in pan. Cook and stir for about 5 minutes.
Stir in tomato sauce, water, basil, thyme, parsley, and bay leaf. Return meat to pan. Bring to a boil, and reduce heat to simmer. Cover, and cook for 2 1/2 hours.
