Put water in large bowl. Add oil and sugar, then yeast. Mix in a little flour and let stand a few minutes until bubbles start to form. Stir in flour (may use mixer) until thick batter. Then add flour slowly until dough starts to come from sides of bowl.
Turn onto floured surface, round into ball. Cover with bowl. Let stand 10 minutes. Knead, adding flour if necessary so it isn't sticky. Dough should feel smooth and soft.
Put into well oiled bowl. Turn so it is covered with oil. Cover with towel. Should double in size in about half hour or a little more. Punch down and divide into 2 loaves.
Put into well oiled or sprayed 9 5/8 x 5 1/2 x 2 3/4 inch pans. Oil tops, let rise until doubled in size. Set in oven. Turn heat to 350 degrees. Bake about an hour or until loaves are brown on top and pull away from sides of pan. Put on rack to cool. Makes excellent toast. If cut into 16 slices, 97 calories per slice.