In a resealable plastic bag combine flour, 1/4 teaspoon salt, and 1/4 teaspoon black pepper. Add beef cubes; shake to coat. In a 4- to 5-quart Dutch oven heat 2 teaspoons of the oil over medium-high heat. Add half of the beef cubes; cook and stir until browned. Remove from skillet to a bowl. Repeat with the remaining beef cubes and oil, and add the onions and garlic. Return all of the beef to the Dutch oven. Stir in dried oregano and thyme. Add broth, stirring to scrape up the browned bits from bottom of pan. Stir in tomatoes, the water, and wine. Stir in potatoes, carrots, bay leaf, 1/4 teaspoon salt, and 1/4 teaspoon black pepper. Bring to boiling; reduce heat. Simmer, covered, about 1 1/2 hours or until beef is tender, stirring occasionally and stirring in the sweet pepper for the last 20 minutes of cooking. Remove bay leaf.
Cool stew slightly and transfer to airtight freezer containers. Seal, label, and freeze for up to 2 months.
Thaw in the refrigerator for 1 to 2 days. To reheat, transfer stew to a saucepan; cook over medium heat until heated through, stirring occasionally. To serve, if desired, garnish with fresh oregano sprigs.