Thinly slice the meat. Chop onion into small pieces.
Use a deep pan and heat oil over med/high heat. Once the oil is hot, add meat strips. Cook 5 minutes or until meat is golden, mixing frequently.
Add the chopped onions, turn the heat down to medium and cook for another 5 minutes (or until onions are tender).
Add the 3 cups of water and mix. Cook on med/high heat for about 10 minutes (or until meat is tender).
In a bowl combine ketchup, heavy whipping cream, flour, salt, pepper, and seasoning.
Add ketchup mixture to pan and mix. Turn heat down to low and let the gravy simmer for about 5 minutes.
