Heat olive oil in a large heavy frypan over medium high heat. Cook sausages until browned on all sides. Remove sausages from pan and set aside. Pour in 1 1/2 cups beer to deglaze the pan, scraping up any blackened bits from the bottom.
Place the red capsicums, green capsicums, onions and garlic in the pan. Stir in the remaining beer and the tomato paste. Season with oregano, coriander, Tabasco sauce, salt and pepper. Cover and simmer until onions and peppers are tender.
Slice the sausages into bite size pieces and add to the peppers. Cover and simmer until sausage is cooked through.