Cut the meat into 4 pieces.
Place beef broth in a large pot over medium-high heat. At first boil add the meat and cook for 15 minutes. Try the broth and add more salt and pepper to taste if necessary. Cover and let cook for about 2 hours or until meat is fully cooked and tender. As the meat cooks check the broth levels, and add more if needed (meat should always be covered by the both).
When the meat is ready carefully removed from the pot, place on plate and let it cool. Reserve broth (about 3-4 cups).
Once the meat is cool enough sheered using two forks or your hands.
In a large skillet over medium heat add the oil. SautÃ© onion and pepper for 3-5 minutes or until onion is translucent. Add garlic and let cook for 1 more minute.
Stir in shredded beef and mix well.
In a medium bowl combine tomato paste, tomato sauce, Worcestershire sauce and oregano and leftover beef broth; mix well until everything is well incorporated. Add this mixture to the meat. Add the bay leaves, cover and cook for 20 -25 minutes, or until most of the liquid has been consumed.
Serve hot with white rice, black beans and fried plantains if desired.