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1. MARCHAND DE VINS SAUCE: In a 1- to 2-quart enameled saucepan, melt 2 tablespoons of butter over moderate heat. When the foam subsides, cook the shallots, stirring constantly, for 2 minutes, or until they are soft but not brown.
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2. Pour in the wine, add the bay leaf, thyme and parsley sprigs and simmer over moderate heat until reduced to ¾ cup. This process may take 10 to 15 minutes.
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3. Strain the reduced wine through a fine sieve into a small bowl, pressing down hard on the shallots and herbs with the back of a spoon before discarding them. Return the wine to the saucepan, add the thinned meat extract and bring to a boil. Set the pan aside.
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4. Cream 12 tablespoons of soft butter, beating it vigorously against the side of a small bowl with a wooden spoon until it is fluffy. Beat in the lemon juice, flour and parsley. Set the bowl aside.
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5. THE STEAK: Pat the steak thoroughly dry with paper towels. Cut small incisions every inch or so around the outside of the steak so the fat won't curl as it cooks. In a heavy 12- or 14-inch skillet or saute pan, melt 1 tablespoon of butter with the 2 tablespoons of vegetable oil over high heat.
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6. Add the steak and brown it quickly for 1 or 2 minutes on each side, turning it with tongs. Then reduce the heat to moderate and saute the steak for about 5 minutes on each side, or until it is done to a medium-rare degree.
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7. Experts test a steak by pressing it with a finger. It should be slightly resilient, neither soft nor firm. If that method seems tricky, make a small incision near the bone with the tip of a sharp knife and judge by the meat's color. Transfer to a heated platter and season with salt and pepper.
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8. Pour the reduced wine mixture into the skillet and bring it to a boil over moderate heat, stirring constantly and scraping in any browned bits that cling to the bottom and sides of the pan. Remove from the heat and blend in the creamed butter mixture, 2 tablespoons at a time. To serve, slice the steak and offer the sauce separately.
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9. ALTERNATIVE: Sauce Biarnaisecan take the place of the marchand de vins sauce.In this case, the name of the dish becomes Bifteck Bearnaise.
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