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Crush the peppercorns using a mortar and pestle or a rolling pin into coarse grains. Don’t over crush into a powder, as you want some texture.
Heat the butter and oil (or steak pan drippings) to medium high heat.
Add the shallot and a bit of salt. Cook, stirring 2-3 minutes to soften.
Add the crushed peppercorns and brandy (or cognac). Cook for 2-3 minutes, stirring, until the liquid reduces until almost gone. Be sure to scrape any browned bits from the bottom of the pan if you just seared steaks.
Add the beef stock and stir. Bring to a boil, then reduce heat to medium. Cook until the liquid reduces by half, about 5 minutes.
Reduce the heat to medium-low, then stir in the heavy cream. Simmer it for 3-4 minutes until it thickens to your desired consistency.
Serve over steak!