In a medium saucepan over medium-high, heat the oil. Stir in onions and bell peppers, cooking for approximately 3 to 5 minutes. Stir in cumin, salt, cayenne, jalapeno, and garlic. Stir and cook for 30 seconds. Add tomatoes and their juices, stirring constantly for approximately 2 minutes. Stir in chicken stock and simmer over low heat until thick, approximately 15 minutes. Stir in cilantro and remove from heat. Season with salt and pepper, cover and keep ranchero sauce warm until ready to serve.

In a large skillet over medium-high heat, heat 1/2 tsp of vegetable oil. Once hot, add 1 tortilla and fry until it begins to brown, approximately 30 seconds per side. Repeat this process with the remaining oil and tortillas.

Melt 2 Tbsp of butter, divided between two medium skillets over medium high heat. Add 4 eggs into each skillet and fry until they begin to set. Sprinkle the eggs with cheese evenly and cook covered to finish, approximately 1 to 2 minutes.

To assemble, add 2 tortillas to each plate and spread with refried beans. Place 1 fried egg on top of each and top with the warm ranchero sauce. Serve immediately.