Arrange the olives in a shallow piece of heavy-duty foil molded into a small tray.
Add the remaining ingredients.
Place the olives in the smoker and cook until the olives absorb half of the liquid and take on a light but identifiable smoke flavor, 30-50 minutes. Time depends on your grill!! Taste test after about 15-20 minutes.
The olives can be served immediately with some asiago grated cheese over them or can sit for several hours to develop the flavor further.
Refrigerate any leftovers. Be sure to save the leftover olive oil for bread dipping – mmmmmmgood!