Melt 1 tablespoon butter with 1 tablespoon oil in a saute pan. When the butter begins to foam, add the filets and cook until browned, approximately 4 minutes on each side. Use tongs to turn the meat so you won't pierce holes in the filets. Cook on as high a temperature as possible without the butter becoming dark.
When you have cooked the filets to the desired doneness, remove filets from pan and place on a plate.
While the butter and olive oil are still very hot, deglaze the pan by pouring in the wine and loosening the steak bits.
Continue to cook the wine, stirring occasionally, until the wine reduces to about 1/4 cup. Stir in the cream and bring just to a boil and remove from heat.
Stir in the remaining 2 tablespoons butter and pour entire sauce through a strainer into a cup.
Place the filet in the center of serving plate and pour the Merlot cream sauce on top.
Optional Ingredients: You may add 1 tablespoon chopped shallots and 1 tablespoon fresh tarragon to the saute pan just before adding the wine.
Cooking tips: To reduce the sauce, keep the liquid to a boil, stirring occasionally. If you like your meat well done, simply place the filets in an ovenproof pan and bake them at 350 degrees F for 5 to 10 minutes more.
Extra virgin olive oil is the best and fruitiest of the olive oils. Tree-ripened olives are pressed to extract oils of varying flavors, acidity and colors. Various, flavored, olive oils are widening the range of flavors and are used frequently in this cookbook.
Filet Mignon is a boneless cut from the small end of beef tenderloin. It is extremely tender and is best sauteed, broiled or grilled quickly by searing the outside to retain the hearty juices inside. Never overcook the filet.
Merlot is a full bodied, red wine grape similar to, but more mellow than Cabernet Sauvignon. It does not overpower the filet mignon, but rather enhances the rich, beef juices.
Recipe Source: Gourmet Cooking with 5 Ingredients.