Preheat the oven 425°F.

Add the beef bones to a large roasting pan in a single layer. Thoroughly coat with the olive oil. Roast for about one hour or until well browned.

Transfer the roasted bones from the pan to a large stockpot of at least 20-quart capacity and set aside. Drain off all but 3 to 4 tablespoons of rendered meat fat in the roasting pan. Place the pan on several burners over low heat.

Add the prepared onions, celery, carrots and garlic to the pan. Braise in the pan for 10 to 15 minutes, stirring often, until lightly caramelized.

Deglaze with one cup of the red wine and simmer until it is reduced by three-quarters. Mix in the tomato paste and continue to cook over low heat for an additional 15 minutes until the paste resembles a rust color.

Transfer the vegetables to the stock pot with the roasted beef bones. Add the fresh thyme, parsley, bay leaves and black peppercorns to the mix.

Place the roasting pan back on the burners and deglaze with the remaining cup of red wine. Cook for a few minutes to remove any of the leftover bits of fond on the bottom of the pan. Add that liquid to the stock pot.

Fill the stock pot with cold water so that it covers the contents to include a 6-inch layer of excess water above the bones.

Simmer over low heat for 8 to 10 hours while continually skimming off any impurities that rise to the surface. Do not allow the stock to come to a full boil as it will cause the stock to be cloudy.

Strain the entire contents of the pot through a micro-mesh colander and discard the solids. Pack in several large containers and chill overnight.

If desired, remove any visible fat from the top of each container.  Transfer to smaller containers to be stored. Refrigerate for up to 5 days or freeze for up to 6 months.