Sprinkle the steaks liberally with the salt and pepper on both sides, and let stand at room temperature for a good hour or more, preferably on a baking rack so that air can circulate bottom and top. (Otherwise, be sure to turn the steak from time to time to expose both sides to the air.)
When you are ready to cook, heat the oil and butter over medium-high heat in a heavy skillet until the butter has completely melted. As soon as the butter has stopped sizzling, add the steaks. Fry the steak on both sides until nicely seared and done to your liking. NB: Be careful to regulate the heat so that the butter never burns; some cooks prefer to sear the meat in a skillet, then finish it off in the oven, which makes burning the butter less of a risk.
Remove the steak from the skillet and keep it warm while you prepare the sauce. Meanwhile, pour out most of the grease (leaving, however, all the sucs in the pan) and add a pat of butter and the shallots. After just 30 seconds or so, add the brandy, scrap up any sucs in the bottom of the skillet, and let it reduce to a syrup. Then add the cream, together with any juices that may have dripped out of the steak, and let that reduce as well until it has reached a saucy consistency. Test and adjust for seasoning; I like to add more pepper to the sauce.