Remove turkey from the roasting pan and set aside.

Place the roasting pan over 2 burners on medium heat and sprinkle flour and butter into the pan juices and whisk for 1-2 minutes until combined.

Add one cup of stock and scrape the pan with a wooden spoon for another minute to incorporate all the bits that are stuck to the bottom.

Add the rest of the stock (about 4 cups total) and bring to a simmer. Stir until thickened, about 8-10 minutes.

Pour gravy through a fine mesh strainer into a bowl to make sure gravy is smooth.

Heat 1 tablespoon of oil in a medium size pot over high heat.

Sear giblets on each side till nice and brown (there will be some browning on the bottom of the pot but this is ok).

Remove giblets and add onions and celery and sauté for another 4-5 minutes until softened and starting to brown.

Add giblets back into the pot along with bay leaves and thyme sprigs and the 5 cups of water (use a wooden spoon to scrape the bottom and get the flavors incorporated).

Bring to a boil, reduce to a simmer and cook for 30 minutes, skimming the froth that develops, as necessary on the surface.

Pour though a fine mesh strainer and cool.