In a small bowl, mix oats and milk; let stand 5 minutes. In a large bowl, whisk flour, baking powder, brown sugar and salt.
Stir eggs and oil into oat mixture. Add to flour mixture; stir just until moistened.
Lightly grease a griddle; heat over medium heat. Pour batter by 1/4 cupfuls onto griddle. Cook until bubbles on top begin to pop and bottoms are golden brown. Turn; cook until second side is golden brown. Freeze option: Freeze cooled pancakes between layers of waxed paper in a freezer container. To use, place pancakes on an ungreased baking sheet, cover with foil and reheat in a preheated 375° oven 5-10 minutes. Or, place 2 pancakes on a microwave-safe plate and microwave 1 to 1-1/4 minutes or until heated through.