Melt the butter in a saute pan over medium low heat. Add the olive oil and let warm.

Add in the sliced onions, chopped garlic, thyme, bay leaf, salt and pepper over low heat, stirring frequently. Cook until golden brown, approx. 25 minutes.

Add in the red wine and bring it to a boil. Let the wine cook down until all the liquid is gone (stir frequently). Discard the thyme sprig and bay leaf. Sprinkle in the flour and stir well. Cook for about 5 minutes to get rid of the flour taste.

Add in the beef broth and stir well. Let cook for 10-15 minutes until thickened.

Toast the bread. Top with the french onion mixture and a slice of cheese. Place under the broiler for 2-3 minutes (watch carefully!)