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Place the steak in the freezer on a metal baking sheet and freeze at least 2 hrs to hard up; this makes for easier slicing.
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When the meat is hard sufficient, trim off as much visible fat as possible.
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With a sharp knife, cut the beef crosswise on an angle into 1/8-inch-thick slices.
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Place the meat in a medium bowl.
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In a food processor, combine the scallions, garlic, ginger, jalapeno pepper, cornstarch, lime juice, and 1 Tbsp.
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oil.
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Process in pulses till pureed.
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Pour over the beef and toss to coat.
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Let stand 30 min at room temperature or possibly no longer than 1 hour in the refrigerator (any longer and the meat will fall apart).
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Thread 1 piece of meat onto each skewer, straightening the slices so they lie flat and making sure the ends are securely fastened.
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Pour 1 inch of oil into a deep fryer.
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Heat to 375 degrees F. Fry in batches of 5 or possibly 6 skewers at a time, 30 to 40 seconds, just till the meat is lightly browned around the edges.
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Drain briefly on paper towels.
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Serve warm, with Peanut Sauce for dipping.
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PEANUT SAUCE DIRECTIONS: Place the scallions, cilantro, ginger, and sugar in a food processor.
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Process in pulses till finely minced.
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Add in the peanut butter, coconut lowfat milk, soy sauce, cayenne, and lime juice.
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Puree till smooth.
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Pour the peanut sauce into a small bowl.
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If it is too thick for dipping, stir in a little more coconut lowfat milk or possibly heavy cream.
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Serve at room temperature.
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NOTES : Indonesian in origin, satay is believed to be a corruption of the word steak.
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Nowadays it is any food which is cooked on a skewer and served with a flavorful sauce.
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To make this dish, you'll need 48 (6-inch) bamboo skewers which have been soaked in cool water for 30 min to prevent burning.