Measure 1/2 cup beef broth and set aside.

Sprinkle steak with salt and pepper. In a Dutch oven, brown steak in batches in oil over medium heat. Remove to a plate until all beef is browned. Return beef to Dutch oven and add remaining broth, potatoes, water, carrots, onion soup mix, and remaining pepper, bring to a boil. Reduce heat, cover and simmer 20 - 25 minutes or until vegetables are tender.

In a small bowl combine cornstarch and the 1/2 cup broth, until smooth. Stir into soup. Add peas. Bring to a boil, cook and stir 2 minutes or until thickened.

Serve with crusty French bread, Hawaiian rolls or crescent rolls.