Saute tomato, green pepper, and mushrooms in 2 tablespoons butter until tender, drain.

Combine eggs, water, salt, and pepper, stir briskly with a fork until uniformly blended.

Stir in vegetable mixture, 2 tablespoons picante sauce and bacon.

Heat a 10 inch omelet pan or heavy skillet over medium heat until hot enought to sizzle a drop of water. Add 1 tablespoon butter, and rotate pan to coat. Pour half of egg mixture into pan. As mixture starts to cook, gently lift edges of omelet with spatula, and tilt pan so uncooked portion flows underneath.

Fold omelet in half with spatula, and place on warm platter. Repeat with remaining egg mixture and 1 tablespoon butter.

Serve with additional picante sauce.