1 can unsweetened coconut milk
3 tablespoons red curry paste
2 tablespoons vegetable stock
1 tablespoon brown sugar
1 teaspoon salt
1/2 teaspoon soy sauce
10 thai basil leaves
1/4 cup chopped salted peanuts
9 wild lime leaves, sliced into thin threads
2 thai chilies, sliced
Choice of vegetables. Good choices for panaeng curry are:
Spoon out 1/4 cup coconut milk from top of can and set remainder aside. In a heavy skillet over medium heat, bring 1/2 cup remaining coconut milk to a gentle boil. Cook stirring occasionally, until it thickens and releases its sweet fragrance, about 3 three minutes.
Add curry paste and cook three minutes more, stirring to break up the paste and combine it with coconut milk. Add remaining coconut milk, stock, sugar, soy sauce, and salt, and stir well. Add any firm vegetables at this time as well. Bring to an active boil, reduce heat to maintain a gentle boil, and simmer, stirring occastionally for 15 minutes.
Add most of the basil and lime leaves, and any remaining vegetables, and stir gently. Remove from heat and let stand 5 minutes. Pour reserved coconut milk on top and sprinkle with remaining lime leaves, basil, and peanuts to serve.
from Real Vegetarian Thai