In a large mixing bowl combine the water, yeast, sugar, and oil. Set aside and allow to rest for 10 minutes.
Add the flour, oats, and salt to the wet mixture. Mix thoroughly until all of the dry ingredients are wet then knead by hand (about 10 minutes) on a lightly floured surface, or with the standing mixer and a dough hook attachment (about 5 minutes.)
Cover the bowl with a dish towel or plastic wrap and let it rise for 90 minutes.
Next, punch down the dough and knead by hand, turning the dough over on itself 2 or 3 times.
Shape the dough into a loaf and place in a greased 9x5" loaf pan. Cover with a dish towel and let rise until the dough is about 1-2" above the pan.
While the dough is rising, pre-heat the oven to 375 degrees.
Once the dough is ready, bake for 25-30 minutes or until the top is golden brown.
Let the loaf cool for about 5 minutes, then transfer to a wire rack to cool completely.
