In a saucepan place sugar, cocoa and the milk and stir with a whisk . Take the butter and slice into this mixture over low heat until all is mixed and melted.
Bring this to a rolling boil and boil for 2 l/2 minutes... I test it by taking a cup of cold water and putting a spoonful of the mixture into the cold water. If it forms a ball it has boiled long enough. If it does not form a ball, it is not done yet. This may take 3 minutes.
Turn off heat and add the peanut butter. Stir until it is mixed and then with heavy spoon mix in the oats and stir all together and drop by spoonfuls onto waxed paper.