In pressure cooker, combine water, soy sauce, onion, garlic, bay leaves, sherry wine, black pepper and molasses. Place cooker over medium high heat with lid off so the liquid can start to heat up.
In a separate pan, heat olive oil over medium to medium high heat. Brown the chicken thighs on both sides. Once browned, add directly to the liquid in the pressure cooker. Stir a bit to get the chicken thighs down into the liquid.
Place lid on pressure cooker and bring heat up to high. Once the pressure cooker valve starts whistling and rocking around, drop the heat to medium high and set the timer for 25 minutes.
Use this time to cook some jasmine rice. Make as much as you like and simply follow the directions on the bag. When the rice is done, remove it from the burner so the bottom doesn't burn and get hard.
Once the 25 minutes are up, remove the pressure cooker from the heat and run cold water over it to release the pressure and open the cooker. Remove the bay leaves. Serve chicken and sauce over jasmine rice, ENJOY!