Mix the peanut butter, mashed corn flakes, powdered sugar, and butter in a bowl until well blended.
Use a melon baller or rounded 1/2 teaspoon measure to pack 1 teaspoon sized balls (make larger or smaller as desired). I find each ball takes just under a minute to pack.
Chill balls in refrigerator for at least 3 hours.
Melt chocolate in microwave on high for 30 seconds with the oil. I melt 1/2 cup of chocolate chips at a time (and 1 teaspoon oil) so that I will use all the chocolate before it cools. Gently roll the peanut butter balls in the melted chocolate to cover the ball. Place dipped balls on a greased cookie sheet to cool. Can be refrigerated, frozen, or eaten immediately.