Combine in large saucepan:

1/4 c. butter
3 c. sugar
4 tbsp. cocoa
1/2 c. milk

Stir constantly over high heat for 5 minutes or until butter has melted. Remove from heat.

Add:

1/2 c. peanut butter
3 c. rolled oats

Mix well. Drop by teaspoon onto waxed paper. Allow to cool.