Preheat the oven to 325ºF. (162°C)
Measure the oats, flour, and baking powder into a mixing bowl and whisk until combined.
Add the grated cheeses and bacon and stir until combined. Make a well in the flour, and add the canola oil. Mix on medium speed using a paddle attachment till crumbly.
Add the water all at once, and mix till dough forms and all the ingredients are combined.
Turn the dough out onto a slightly floured surface and gently knead till dough is smooth and soft. Roll the dough ¼-inch thick, and cut out the biscuits using a cookie cutter.
Place the biscuits on a parchment-lined cookie sheet and bake 12– 15 minutes till they are dry and firm to the touch. Turn the oven off and leave the biscuits in another 20– 30 minutes. Remove them from the oven, cool them on a baking rack, and store them in a cookie tin.