1. Set the oven at 325 degrees. Line 2 rimmed baking sheets with parchment paper.
2. In a small bowl, stir together the salt, pepper, and cinnamon.
3. In a saucepan over medium heat, combine the pecans, water, and sugar. Bring to a simmer and cook, stirring often, for 5 minutes.
4. With a slotted spoon, remove the nuts from the pan and spread them in a single layer on the baking sheets. Use 2 forks to separate them so they don't touch each other.
5. Bake for 20 minutes, or until they turn a deep, toasty brown.
6. Remove from the oven and cool for 5 minutes. On each baking sheet, push the nuts into a mound in the center of the sheet. Drizzle each mound with half the oil and half the vanilla extract, and toss to coat the nuts. Sprinkle each mound with half the cinnamon mixture and toss again to coat them.
7. Spread the nuts on the baking sheets in one layer again. Return to the oven for 10 minutes, or until browned and crisp.