Preheat oven to 300 degrees F. Spray large baking sheet with cooking spray; set aside.
Combine peanut butter, oil and honey in small saucepan. Heat on low until smooth and pourable. Meanwhile, process 1 cup of oats in blender or food processor until finely ground. Combine ground oats with remaining oats, sugar and salt in large bowl. Pour warm peanut butter mixture over oat mixture and stir well. Pour onto prepared baking sheet.
Bake 30 minutes, stirring every 10 minutes. Let cool 10 minutes, break into chunks and allow to cool completely on baking sheet. Store in airtight container at room temperature for up to 7 days.