2 tablespoons peanut oil
1 3/4 pounds lamb shoulder, trimmed, cut into 1-inch cubes
2 large onions, coarsely chopped
1 6-ounce can tomato paste
3 bay leaves
1/4 teaspoon cayenne pepper
1 3/4 cups beef stock or canned beef broth
1 3/4 cups water
3/4 cup old-fashioned style or freshly ground peanut butter
1 cup diced carrots
4 jalapeño or 2 habañero chilies, halved, seeded
1 cup frozen peas
1. Heat oil in heavy large saucepan or Dutch oven over medium-high heat. Add lamb and onions and cook until lamb is brown, stirring occasionally, about 6 minutes.
2. Mix in tomato paste, bay leaves and cayenne pepper and cook 1 minute. Season with salt and pepper.
3. Add beef stock and water and bring to boil. Simmer until lamb is tender, about 1 hour 20 minutes.
4. Stir peanut butter, carrots and jalapeños into stew and cook until carrots are tender, about 30 minutes. Add peas and cook until heated through.
5. Discard jalapeños. Serve stew over rice.