Preheat oven to 150 C degrees.
In a heavy skillet brown the beef in the butter over medium high heat.
Add the soup and water and stir well.
Add the rest of the ingredients and cook for about 5 minutes, stirring once.
Transfer to a cast iron pot or oven proof pot and cook in the oven, covered for 5 hours, stirring occasionally.
Remove from oven, remove bay leaves and serve.