1. Preheat oven to 425°.
2. In a medium sized ovenproof skillet, heat oil over medium high heat. Add peppers and onions and cook until tender, about 6 minutes.
3. Turn heat to high and add ground beef, tomato paste, and Texas Red. Cook, stirring frequently, until beef is no longer pink, about 5 minutes.
4. Add the 2 tablespoons of flour and water to pan, and salt and pepper to taste. Turn heat to low while making the cornbread batter.
5. In a bowl mix together the milk, vegetable oil, and egg.
6. In a separate bowl mix together the 1 1/4 cup flour, cornmeal, sugar, baking powder, and salt. Add the wet mixture to the dry mixture and stir until just mixed through.
7. Drop tablespoons of batter over the beef mixture in the skillet, about 1 inch apart. Transfer skillet to oven. Bake until the cornbread is golden brown, and a toothpick inserted into the center comes out clean – about 15 to 20 minutes.