In a large stock pot or braising pot, add the olive oil. Season the veal shanks with salt and pepper. Season the flour with Essence.
Dredge the veal shanks in the seasoned flour, coating each side completely.
When the oil is hot, sear the shanks for 2 to 3 minutes on each side, or until very brown on all sides. Remove the shanks and set aside.
Add the onions to the pan and saute for 2 minutes. Add the carrots and celery and continue to saute for 1 minute. Season with salt and pepper. Stir in the garlic, bay leaves, and thyme. Cook for 1 minute. Deglaze the pan with the red wine, scrapping the bottom and sides to loosen the browned particles. Add the stock. Bring the liquid up to a boil and reduce to a simmer.
Add the shanks and continue to cook for about 2 hours, basting the shanks often, or until the sauce is stew-like and the meat falls of the bone. Season with salt and pepper.