Preparation - Combine oatmeal and milk. Let stand at room temperature for about 1/2 hour. In a large bowl - combine flour, sugar, baking powder, and salt. Add cheese and bacon. Stir oil and eggs into oatmeal mixture. Add to the dry ingredients; Beat with a fork; Batter will be lumpy. Spoon into greased muffin tins, filling each cup 2/3 full. Bake at 400º for 20 minutes, or until golden. Serve warm.