Grind oatmeal in a food processor or blender. In a large bowl, combine oatmeal, flour, baking powder and salt. In a separate bowl, dissolve honey in vegetable oil then stir in the milk. Combine both mixtures and stir until a soft dough is formed. Form the dough into a ball and place on a lightly oiled baking sheet.
Bake in preheated oven for about 20 minutes, or until bottom of loaf sounds hollow when tapped.