Heat oil over medium heat in a large saucepan. Saute diced onion and garlic until onion is translucent.
Add red wine to the saucepan, stir and simmer for 1 minute until liquid is reduced slightly.
Add tomato paste, tinned tomatoes and sugar to the saucepan, stir and simmer over a low heat for 30 minutes or until sauce is thick and rich in colour and flavour.
Add the fresh basil leaves (saving a little to garnish) and season with pepper.
Meanwhile preheat oven to 180oc.
Spread the peeled prawns over the bottom of a oven safe baking dish, pour over tomato sauce.
Crumble the Olympus fetta and evenly spread over the prawns and sauce.
Place baking dish on the middle shelf in oven and bake for 20 minutes or until fetta is golden and prawns are cooked through.
Serve on rice with fresh basil leaves sprinkled on top.