In a saucepan over medium high heat stir together the smoked paprika, garlic, cayenne, chili powder, red chili flake, tomato paste, beer, honey, pepper and salt. Add the butter and bring to a strong simmer, stirring frequently until reduced and thickened, about 5 minutes.

In a separate pan heat the olive oil until hot but not smoking. Add the shrimp and cook until ust starting to turn pink, about 2 minutes. Pour the sauce into the shrimp pan, cook until the sauce thickens and shrimp are cooked through.