In a large ziplock bag, combine all seasonings and chicken drumsticks. Seal the bag and shake to coat the chicken with seasoning. Marinate for at least 30 minutes to an hour.
In a heavy bottomed soup pot, sauté the chicken in the achiote oil, turning the chicken to brown on all sides. Add sofrito, diced onion, and garlic. Sauté for 5 minutes then add bell peppers, cilantro and a pinch of salt and pepper.
Add tomato sauce, olives, and peas and cook 5 more minutes. Add rice, stirring to ensure each grain is coated with seasoning and veggies.
Add broth and water and bring to a boil. Stir and lower to a simmer. Cook for about 30 minutes on low, checking towards the end for flavor and to see if the chicken & rice are cooked through. If dry, add another ½ cup broth, cover and continue to cook for 5 minutes.
Serve with a squeeze of lime juice, sprinkle of chopped cilantro and hot sauce. Enjoy!