Preheat oven to 400°F (200°C). Place mushrooms in a bowl with warm broth and soak for 20 min. or until tender. Strain mushrooms and reserve broth.
In large saucepan on medium-high heat, add 1 tsp (5 mL) of oil, butter, shallots and mushrooms. Cook until shallots are caramelized, about 5 min. Add wine and deglaze the pan, about 3 min. Next add the broth and simmer, allowing the liquid to reduce by half, about 5 to 8 min. Add cream and cook another 2 min.
Meanwhile, season beef with salt and pepper. Add remaining oil to an ovenproof skillet and pan-sear beef on high heat, 1 min. per side, and place in the oven. Cook about 6 to 8 min. or until an instant-read thermometer reaches 145°F (63°C) for medium rare. Remove beef from oven and set aside to rest. Divide steaks among 2 plates, drizzle 3 tbsp (45 mL) mushroom sauce overtop (save any leftovers for another use) and serve.
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