In a large stock pot add olive oil. Stir in onions, garlic, ham base, hot sauce, thyme and oregano. Saute until onions are translucent. Add drained black eyed peas, vegetable stock, water and chopped ham. Simmer until peas are tender. Approximately 40-50 minutes. Add collards and simmer an additional 20 to 30 minutes. Pepper to taste. Serve hot.