In the bowl of your stand mixer, whisk together the flour, yeast and salt by hand. In another bowl, combine the butter, milk, water and 1/3 cup of honey. Stir to combine. Dig a well into your flour mixture, and pour the wet ingredients into the dry.
Attach the bowl to your stand mixer (or food processor if you are using this instead) and attach the dough hook. Knead with the dough hook on low for 20 minutes or until the dough has formed a smooth ball and is slightly tacky. If they dough is too sticky, keep adding flour a tablespoon at a time until it becomes less sticky. If the dough is too dry, keep adding water a tablespoon at a time until it becomes more tacky. (If you are kneading by hand, this will take a bit longer. Flour your hands generously as you knead as it will be extremely sticky. Knead until the dough is, again, smooth and slightly tacky, about 20-25 minutes.)
Grease a large bowl with olive oil by swirling the bowl around. Place the kneaded dough into the bowl and cover. Allow to rise for about an hour to an hour and a half (it took my dough about an hour and a half) or until it has doubled in size.
Once your dough has just about doubled, dump the dough onto a lightly floured surface. Flatten the dough to a 9x10 inch rectangle and roll into a loaf. Line a 9x5 inch bread pan with parchment paper and set the loaf inside. Cover with a tea towel and again let rise for about a half hour to an hour (it took my dough about an hour) until it has doubled in size. The dough should barely be peeking over the top of the bread pan.
Meanwhile preheat your oven to 350 degrees. Once your loaf has double in size, brush the top of the loaf with the remaining 2 tablespoons of honey then sprinkle with the oats. Bake at 350 degrees for about 30-35 minutes or until the top is golden brown and the bread is cooked through. Remove from oven and transfer to a wire rack to cool completely before serving.