In a saucepan, combine the shrimp shells with 1/2 cup water and boil for 10 minutes. Remove the shells and reserve the stock.

In a small bowl, combine 1 tablespoon of shrimp stock with Tabasco sauce, ketchup, salt and sugar.
Set aside.

Heat 1 1/2 tablespoons of olive oil in large skillet over high heat. When the oil is hot, add bell peppers and sauté for 1 minute.
Remove peppers and set aside.

Add the remaining  2 1/2 tablespoons of olive oil to pan. Add the onion and cook over high heat for 4 minutes. Add the garlic and cook until fragrant, taking care not to burn garlic. Stir in shrimp and cook for another minute. Add wine and stir, the shrimp will begin to curl.

Add the reserved peppers, stir and cook for another 30 seconds. Stir the Tabasco sauce mixture into the skillet and mix well.

Remove pan from heat and transfer shrimp with the sauce to a warmed serving dish.

Serve hot with cooked rice (optional).