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Preheat oven to 425 degrees F. Cut bread into 1/2-inch-thick slices. Lightly brush both sides of each slice with the 2 tablespoons olive oil. Arrange on an ungreased baking sheet. Bake about 10 minutes or until crisp and light brown, turning once. If desired, transfer the cooled toasts to a storage container. Cover and store the toasts at room temperature for up to 24 hours.
Meanwhile, in a medium mixing bowl stir together goat cheese, light cream cheese, lemon juice, and snipped sage or oregano. Cut red pepper into strips. Toss chopped olives in the 1/2 teaspoon olive oil.
To assemble, spread each slice of toast with cheese mixture. Top with red pepper strips, chopped olives, and sage leaves. Serve warm or at room temperature. To heat, return slices to the ungreased baking sheet. Bake in a 425 degree F oven about 3 minutes or until the toppings are heated through. Makes about 24 servings.