Trim excess fat from steaks, and slice into 4- x 1-inch strips. Sauté strips in hot oil in a large skillet until browned. Remove steak from skillet; drain. Reserve drippings.
Add flour to drippings; stir until well blended. Cook, stirring constantly, over medium heat until mixture is browned. Add onion and green pepper; cook over low heat 3 minutes, stirring constantly. Add water, salt, and pepper; stir until smooth. Add browned steak; cover and cook over medium heat 30 minutes. Stir in green onion; cover and cook an additional 10 minutes. Remove from heat, and serve over rice.