Cook the jasmine rice according to package instructions to yield 4 cups. While the rice is cooking, prepare beef.
In medium bowl combine oyster sauce, soy sauce, fish sauce, chili garlic sauce, brown sugar and lime juice. Stir and set aside.
In large skillet over medium high heat, heat canola oil. Add ground beef and cook until browned, about 6 minutes. Use spatula or wooden spoon to break beef into crumbles as it cooks.
Add onions, garlic, bell peppers and Thai chilies to pan. Cook until onions and bell peppers are just softened, about 5 minutes.
Add the sauce to pan and cook until the sauce begins to thicken. Stir in the fresh Thai basil leaves until just wilted.
Spoon 1 cup Jasmine rice into each bowl. Top with the cooked Thai basil beef.
Garnish with additional Thai basil, lime slices and/or Thai chili peppers, if desired. Serve immediately.