Preheat the oven to 160C or 140C Fan or 325F or Gas 3
Heat half the oil in an ovenproof casserole dish over medium-high heat.
Toss the lamb with plain flour and season with salt to taste. Shake off the excess flour. Fry the coated lamb in batches until well browned. Add all the lamb back to the pan.
Cover with the carrots, onions, thyme, and bay leaves. Season well, then top with the potatoes.
Pour the stock over the top until just covered. Bring to a simmer, then cover.
Place the casserole dish into the centre of the oven and braise for 2 ½ hours or until the meat is tender.
Season with salt and pepper to taste. Finish with freshly chopped parsley.