1 cup water
1/2 cup peanut butter
1/2 cup cooking oil
2 cups flour
2 cups sugar
1/2 cup milk
2 eggs (beaten)
1 tsp. vanilla
1 tsp. baking soda

Bring margarine, water, peanut butter and oil to a boil in a large saucepan. Turn off heat. Add flour, sugar, milk, eggs, vanilla and soda. Bake in a sheet pan at 400 for 20 minutes.

Icing

1 stick margarine
1/3 cup milk
1/2 cup peanut butter
1 tsp. vanilla
1 box confectioners sugar

Bring margarine, milk and peanut butter just to a boil in a saucepan. Remove from heat. Add vanilla and confectioners sugar. Mix until smooth. Smooth on cooled cake.