Panang Curry Beef

This is adapted from Fine Cooking magazine; it was easy, fast and delicious.

1 lb flank steak, sliced into thin strips
1 13.5 oz. can unsweetened coconut milk (I used lowfat)
2 T red curry or Panang curry paste
2 T natural crunchy peanut butter
5 t fish sauce
4 t brown sugar
1 T Thai dry chile paste (I bought this at Trader Joe's)
1 red bell pepper, sliced into strips
1 onion, thinly sliced
1 cup frozen peas
1/2- 1 cup loosely packed Thai basil, chopped (depending upon how much basil you like)
2 T lime juice

Heat 1 T veg oil in a large deep skillet and add the curry paste, chile paste, onion and bell pepper. Saute for a few minutes until fragrant. Add the coconut milk, peanut butter, fish sauce and 1/4 cup water. Bring to a simmer. Add the beef, basil and peas and simmer for about 3 or 4 minutes until beef is just cooked through. Serve over jasmine or basmati rice.