1) Preheat the oven to 180C/Gas 4.
2) Put the almonds on a baking tray and toast until fragrant, about 10 minutes. Let cool.
3) Put the nuts into a food processor and finely chop. Add the red pepper, vinegar and shallots to the bowl and process until smooth. While the processor is running, drizzle the oil into the bowl.
4) Season with salt and pepper and serve.