For Sauce: Place all ingredients in medium saucepan, mix to combine. Bring to boil over medium-high heat, reduce heat to low and simmer, stirring frequently, for 20 minutes.

For Shrimp: Heat a large, heavy-bottomed saute pan over medium-high heat for 1 to 2 minutes. Add olive oil, and swirl to coat pan evenly. Add shrimp in a single layer, and cook on one side for 1 to 2 minutes. (Don't crowd; if necessary, use 2 pans. A 12-inch pan will accommodate 1 pound of shrimp.) Reduce heat to medium, turn shrimp, and cook an additional 1 to 2 minutes, or until pinkish in color. Remove shrimp to a plate and drain drippings from pan. Return pan to burner, add butter and heat until lightly browned. Add spicy bbq sauce, whisk to combine. Return shrimp to pan, stirring to coat. Reduce heat to low and cook, stirring frequently, until shrimp are just done (white throughout, moist and tender), about 5 minutes. Take care not to overcook the shrimp. Serve immediately in shallow bowls with hot French bread or garlic bread.