In a small bowl, combine the tomato sauce, oil and seasonings. Cut each biscuit in half. Place one pepperoni slice on each half; fold dough over pepperoni and pinch edges to seal. Dip in tomato mixture.
Place in a shallow baking pan coated with cooking spray. Sprinkle with Parmesan cheese. Bake in a toaster oven at 450 degrees for 10-12 minutes or until golden brown.