Heat olive oil over medium heat until it shimmers
Pulverize ⅔ or all green chiles in a food processor
Add all remaining ingredients, except water and green chiles
Saute for under a minute, until fragrance begins to bloom
Lower heat and add water
Let simmer on low heat, stirring regularly
Add salt and pepper to taste
For best effect, cool and refrigerate for one day, then reheat
Otherwise, keep on low heat (remembering to stir often) and serve immediately
Serve with optional Cilantro (or mix it in the sauce, if you know nobody dislikes it) and fresh lime on the side
