Heat olive oil in a large skillet over medium heat. Add onion and green pepper and cook until tender, about 5 minutes. Add tomato, garlic, oregano, salt, TABASCO® Sauce, tomato sauce, and water; cover and simmer 20 minutes, stirring occasionally.
Break eggs one at a time into a cup and slip into sauce. Cover and simmer over low heat until eggs are set, about 5 minutes. Serve over tortillas or toasted English muffins, topped with some of the sauce.
Makes 6 servings.