Place the meat in a bowl and sprinkle with the flour. Toss the meat around to make sure it's all coated in flour.
In a stew pot, heat the olive oil and butter and add the meat and brown it for a few minutes until brown on all sides.
Remove the meat from the pot and add the onion and garlic and saute until onion is translucent.
To the pot add the water, bullion, beer, Worcestershire sauce, tomato paste, salt, pepper, and paprika. Stir well then add the meat to the pot. Cook the lamb for at least 2 hours.
After 2 hours, add the carrots and potatoes and cook for another 30 min or until potatoes are cooked through.
Garnish with parsley.