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Heat the olive oil or butter in a large skillet over medium heat. Add the onion and garlic, sautéing until soft and fragrant.
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Add the ground beef (or lamb) and cook until browned. Drain excess fat if necessary.
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Stir in the diced carrots, tomato paste, Worcestershire sauce, and thyme. Cook for a few minutes, allowing the flavors to combine.
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Pour in the beef broth and red wine (if using). Let the mixture simmer for 15-20 minutes, or until the sauce has thickened and the vegetables are tender.
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Season with salt and pepper to taste, and stir in the peas in the last few minutes of cooking.