1. Preheat the broiler to high. 2. Rub the steak on both sides with the oil. 3. Sprinkle the steak with salt and pepper, using generous amounts of pepper. 4. Place the steak on the broiler rack and let it cook 4-5 min. from the source of heat. Broil 3-5 min., then turn the steak and broil on the side 3-5 min. Cooking tiome will depend on the desire degree of doneness. 5. Transfer the steak to a hot platter and cover loosely with foil. Let the steak stand in a warm place about 5 min. to redistribute the internal juices of the meat. 6. Meanwhile, make the red butter sauce. Combine the shallots and wine in a saucepan and bring to a vigorous boil. Let the wine cook down to about 1/3 cup. 7. Continue cooking over high heat, stirring rapidly with a wire whisk, and adding the butter about 2 tbsp at a time. Season to taste with salt and pepper. 8. Slice the steak on the diagonal (across the grain of the meat) and garnish with watercress. Serve with red butter sauce. This dish: Steak grille au beurre rouge