In a casserole, heat the olive oil and butter. Cook the bacon and onion over medium heat until the onion is soft. Add the rabbit and brown on all sides.
Pour in the white wine and increase the heat. Let the wine simmer for a few minutes, then add the pureed tomatoes, bay leaf, salt and pepper. Bring to a simmer, then cover partially and lower the heat.
Simmer gently until the rabbit is cooked through and tender, about 45 minutes. If the stew becomes too dry, add some hot water or chicken stock. Remove the bay leaf and thyme sprig before serving.