Combine the cilantro, pumpkin seeds, cheese, jalapeno, salt, and pepper in a food processor. Finely chop, using on/off turns. With the machine running, slowly add the oil and process until incorporated. Season to taste with salt and pepper.
To make with a knife:
Place cilantro, pumpkin seeds, chile and salt on a work surface. Chop finely. Transfer to a small bowl. Mix in the cheese and olive oil. Season to taste with salt and pepper. (Can be made 1 week ahead. Place in a covered container andrefrigerate.)