Heat enough olive oil in a wide based pan to cover the base, add the knuckle of beef. Keep turning the beef for 5-10 minutes to seal in the juices. When it is golden all over, remove the beef from the pan. Keep the pan with the beef juices and the olive oil on a high heat and add the chopped vegetables, pancetta and fresh herbs.
Sweat these off and then return the beef to the pan. Now pour both bottles of red wine in to the pan and all over the meat. Cover and place in a medium oven for between 5-6 hours to cook slowly.