1. Heat oil in a large pot over medium high heat. Sauté pepper and garlic with the pimenton for 2-3 minutes or until the vegetables are tender.  
2. Deglaze the pan with wine, whisk in water, rosemary and thyme. Simmer for 30 minutes. Season to taste with salt.  
3. Heat olive oil in a large dutch oven or sauce pan over medium high heat. Season lamb with salt and pepper and sear, on all sides, until nicely browned (6-7 minutes). Remove from the pan with a slotted, reserving any pan dripping, and set aside.  
4. Stir in onion, celery, carrot, cumin and potatoes. Sauté in the drippings for 2-3 minutes.  
5. Stir in pimenton stock and tomatoes paste. Bring to a simmer, reduce heat to medium low and return the lamb to the pan.  
6. Cover and cook for 45-60 minutes or until the lamb is fork tender and potatoes are cooked through. Season to taste with salt and pepper.  
7. Garnish with chopped parsley before serving.