Heat oil in skillet over medium-high heat. Add veal chop to skillet and brown on all sides - cook for about 5 minutes on each side. Transfer veal chop to a plate. To the pan add 2 tablespoons butter and 2 tablespoons chopped shallots. Cook until shallots are transparent. Add 1/4 cup Madeira to the pan and reduce by half. Stir in 1/2 tablespoon veal demi-glace and 1/4 cup water. Whisk in 1 tablespoon butter and 1 teaspoon chopped thyme. Spoon sauce over veal.