In a large dutch oven with lid off for now, heat the oil over a medium high heat, do not allow to smoke. Brown meat on all sides in dutch oven, this should take about 10 minutes.
If at any time the oil starts to smoke remove from heat, lower the temperature and continue cooking.
Once browned, add to the pot the beef stock, then add water so that all liquid covers 1/2 the roast, and sprinkle with 1/2 the thyme. Put lid on pot and place in middle rack of oven and slow-roast it for 1 hour.
After 1 hour, pull roast from oven and add veggies to the pot first, then add remaining ingredients, and more salt and pepper to taste. Cover pot with lid and place in oven. Roast in oven for another 45-60 minutes, or until potatoes done.
Remove meat from pot and onto serving plate, cover with foil.
Place dutch oven back on stove; boil till liquid is reduced to desired thickness (about 15 mins). Thicken if desired with corn starch.