In a pan colour the shank on all sides on a med/high heat and transfer to an oven proof casserole.
Lower the heat slightly and add some oil.
Colour the whole peeled shallots, transfer to the casserole. Add the baby carrots and do the same.
Melt a knob of butter in the pan and deglaze with a glass of red wine. Add to the casserole.
Season the veg in the casserole and add thyme.
Cover and place in low oven - around 140 degrees for an hour or so until the shank is cooked through.
Rest the lamb and remove the veg from the sauce and keep warm.
Reduce the sauce if needed and serve with creamy mash to soak up all the sauce.