In a large bowl, combine oats, salt and oil. Add water and stir well. Let sit for 15-20 minutes.
Add molasses and 2 cups of the flour; mix well, then add yeast and stir in well. Add remaining flour gradually, until mixture becomes firm.
When dough is too stiff to stir with a mixing spoon, turn out onto a well-floured surface and knead in any remaining flour; continue to knead until dough is slightly sticky.
Place in greased bowl and let rise 2-2.5 hours in a warm spot. When doubled in size, punch down and divide dough into three loaves.
Let rise until doubled again, about 1-1.5 hours. Bake at 350°F (180°C) for 35 minutes. Turn out onto a cooling rack. Serve warm, with a little butter!