Lightly grease baking trays with corn oil and preheat oven to 170°C.
Sift flour, baking powder and bicarbonate of soda into a bowl.
Cream butter, sugar, essence and peanut butter in a mixing bowl until light and creamy.
Beat in chocolate chips and add sifted flour mixture to bind into a soft dough. Roll out dough in between two plastic sheets and cut into rounds with a desired cookie cutter. Bake for 15 minutes or until golden brown.
Cool on wire racks before storing in airtight containers.