Heat a large frying pan on high heat. Season the rib of beef all over with the oil, salt and pepper. Add the thyme and massage the meat. Sear the meat all over until golden brown. Add the meat to a large heavy based baking tray and add the garlic cloves.
Place in the oven and cook for 1 hour and 10 minutes (for medium rare). Best way to test is with a cooks’ thermometer. The internal heat should be approximately 45?C.
Remove the meat from the tray and allow to rest for 15-20 minutes in a warms spot.
For the marchand, place the tray on a medium heat and scrap any caramelised pieces from the bottom of the pan with a wooden spoon. Add ½ a tbs. of butter and the French shallots and allow them to caramelise. Add the flour and cook of for 1 minute. Add the red wine and reduce for a minute, whisking continuously. Incorporate the veal stock and allow this to reduce a little more. Add the rest of the butter and stir unit thick and smooth. Finally season with salt and pepper and add the parsley at the last minute.
Carve the meat and serve with the sauce. I like to serve this simply with some sautéed potatoes and a crispy watercress and hazelnut salad.