Sear the meat in a hot pan with 2 tbsp oil until browned all over.
Heat 200ml coconut milk and 300ml water in a pan. Add the meat, cover and simmer for 1-11/2 hours over a low heat until tender. Remove and allow to cool.
Cut the cooled meat into bite-size pieces.
Wash the Thai basil, shake dry and pick off the leaves.
Wash the peppers, deseed and cut into small pieces.
Heat the remaining oil in a pan and fry the curry paste for 5 minutes.
Pour in the remaining coconut milk, add the fish sauce, sugar, a pinch of salt and the peppers. Add the meat, mix and simmer for 5 minutes.
Meanwhile chop the peanuts. Season the curry and serve sprinkled with peanuts. Serve with rice.