Yes, essentially a 'Spanish' rice - but made with the addition of guajillo flakes.
Get yourself some
harina pan (it is not the same as harina de maiz for corn tortillas). <span class="ev_code_RED">Just got an email from The Latin Products. Good until 5/5, get 18% off using Coupon Code CINCO2012.</span>
Put 1.5 c hot water in a bowl (or use the equivalent of chicken or meat stock - I used chicken here - or a milk-stock blend). Slowly pour in 1 c harina pan while whisking with a fork. When the liquid is well incorporated it will be quite soft. Allow to rest at least 5 minutes.
Meanwhile, set your oven to 350? and heat a large, lightly greased sauté pan over medium heat.
Form the dough into patties about 3-3.5 inches in diameter, .5-inch or slightly less thick. Place into the hot sauté pan as you form them (you'll get about 5 out of this dough amount). After a couple minutes shake the pan to help the bottoms get a little browned and crusty. After a few more minutes, check the bottoms for color and crispness. Flip all the arepas and place the pan in the preheated oven.
Bake 30 minutes. Remove the pan from the oven and remove the arepas to a wire rack. If using immediately, allow to cool slightly then halve horizontally, either cutting through completely or almost all the way, so top and bottom are still attached to each other. Either fill and serve or, if you prefer a drier interior, return to the oven for a few minutes (feel free to turn the oven off).
Alternatively, allow the arepas to cool. When needed, heat your oven to 350?, halve as noted above, fill, then place on a sheetpan and place in the oven to heat. (You can also leave the arepas at room temp, halve, and fill will hot or warm beans or meats, or cold meats, cheese, vegs, whatever.