Results of a partial wave analysis of new high-statistics data on $gamma pto peta$ from MAMI are presented. A fit using known broad resonances and only standard background amplitudes can not describe the relatively narrow peaking structure in the cross section in the mass region of 1660-1750 MeV which follows a minimum. An improved description of the data can be reached by either assuming the existence of a narrow resonance at a mass of about 1700 MeV with small photo-coupling or by a threshold effect. In the latter case the observed structure is explained by a strong (resonant or non-resonant) $gamma ptoomega p$ coupling in the $S_{11}$ partial wave. When the beam asymmetry data, published by part of the GRAAL collaboration, are included in the fit, the solution with a narrow $P_{11}$ state is slightly preferred. In that fit, mass and width of the hypothetical resonance are determined to $Msim$1694 MeV and $Gammasim 40$ MeV, respectively, and the photo-coupling to $sqrt{{rm Br}_{eta N}} A_{1/2}^p sim 2.6cdot 10^{-3}$ GeV$^{-1/2}$. High precision measurements of the target asymmetry and $F$-observable are mandatory to establish the possible existence of such a narrow state and to provide the necessary information to define which partial wave is responsible for the structure observed in the data.
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