Heat oil in large skillet. Lightly brown meat on both sides. Add water and seasonings. Sprinkle paprika on top. Cover pan, and simmer 1-1/2 hours, or 25 minutes per lb., until tender. In the fall and winter place skillet or roasting pan in moderate oven (325° to 350°), and bake 25 minutes per lb. until tender. Serves 4 to 8, depending on size of brisket and what is being served with main course.