2In a 5-quart Dutch oven or roasting pan; heat oil over medium-high heat until hot.
Add beef roast; cook 5 minutes on each side or until browned.
Sprinkle pepper on both sides of beef.
Add 1 of the onions, 1 of the stalks of celery, and bay leaf to beef.
3Dissolve bouillon cubes in boiling water, reserve 3/4 cup.
Pour remaining 3/4 cup around beef. Bring to a boil. Cover.
Bake at 325 for 1 hr.
Add remaining vegetables, cover and bake an additional 1 to 1/14 hrs, or until beef and vegetables are tender.
4To prepare gravy:
Place beef and vegetables on platter and keep warm.
Add reserved 3/4 cup bouillon to drippings (will yield 3 cups) in Dutch oven,
In small jar, combine cold water and flour, shake well.
Gradually stir flour mixture into drippings.
Cook over medium heat until mixture boils and thickens, stirring constantly. Add salt and pepper to taste.