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In a large, heavy-bottomed pan, heat some olive oil and add the rice. Add the remaining stock and cook for 12 minutes with the lid on until the stock has been absorbed, the rice is al dente, and has a lovely creamy consistency. Add the pumpkin puree into the risotto pan and stir together.
In a small bowl, mix together the water and flour. Gradually add the flour and water mixture to the pan, continually stirring, until the sauce has the desired consistency and flour is cooked (the sauce should be clear).