1. Rub ⅛ tsp. of pepper onto each side of the steaks
2. Place the steaks in a shallow dish and sprinkle with ¼ cup bourbon.
3. Cover with plastic wrap and set aside at room temperature for 1 to 2 hours, turning occasionally.
4. Meanwhile, in a small heatproof bowl, cover the mushrooms with the boiling water.
5. Set aside for 20 minutes.
6. Preheat the oven to 225 degrees.
7. Remove the mushrooms but save the liquid.
8. Rinse the mushrooms well, cut off any tough bits and discard.
9. Finely chop the mushrooms.
10. Strain the liquid through a sieve lined with cheesecloth and save 1/2 cup of it.
11. In a large heavy skillet, heat the oil and butter over high heat until just beginning to glisten.
12. Add steaks and cook until browned, about 2 minutes a side.
13. Remove from heat and add the other 1/4 cup of bourbon.
14. Stand back, ignite with a long match, then shake the pan until the flames die down.
15. Transfer the steaks to a heatproof platter and cook in the oven until done, about 15 min.
16. Meanwhile, add the garlic and shallots to pan and cook over moderate heat, covered, until soft (about 6-8 min.).
17. Increase the heat to high, add the 1/2 cup of reserved liquid.
18. Cook, stirring constantly, until syrupy, about 2 min.
19. Sir in the cream and cook until slightly reduced, 2-3 min.
20. Stir in the reserved mushrooms, reduce heat to low, and cook 2 more min.
21. Season with salt to taste.
22. Transfer steaks to warmed plates.
23. Stir any juices from the meat into the sauce and spoon over the steaks.
24. Serve immediately