Preheat a large heavy-bottomed saucepan or Dutch oven over medium-high heat with the oil and butter.
While the pan is heating, arrange the flour on a large dish. Season the cubed beef with some salt and freshly ground black pepper and then toss in the flour to coat. Shake off the excess flour and add the beef chunks in a single layer to the hot pan, being careful not to over crowd the pan, you might have to work in batches. Thoroughly brown all of the cubes on all sides. Once all the meat has been browned remove it to a plate and reserve.
Add the wine to the pan and bring up to a simmer while you scrape the bottom of the pan with a wooden spoon being sure to loosen up all those tasty bits. Once the wine has gotten hot add the browned meat, thyme, smashed garlic, orange zest strip, ground cloves, freshly ground black pepper and salt, to taste, bay leaves and beef stock. Bring the mixture up to a boil and then reduce the heat to a simmer and cook uncovered until the liquids start to thicken, about 15 to 20 minutes. Cover and cook on low heat for 2 1/2 hours.
After 2 hours add halved potatoes, sliced carrots, pearl onions and mushrooms, along with a pinch of sugar to balance out the acid from the red wine. Turn the heat up slightly and simmer, uncovered, for 30 minutes more, until the vegetables and meat are tender. Add the frozen peas during the last minute of cooking. Season with salt and pepper and remove the thyme sprigs.