Lamb shanks are a wonderfully gelatinous cut, treasured by smart cooks (and they’re inexpensive). Currently, they are enjoying a vogue on restaurant menus.
Heat the olive oil in a nonreactive heavy, flameproof casserole or Dutch oven over medium heat. Season the shanks with salt and pepper to taste. Add them to the casserole and brown well on all sides, turning several times, 15 to 20 minutes total. Transfer to a plate; if there is excess fat, pour off all but a thin film from the casserole.