Combine dry ingredients. Make a well in the center and add oil, molasses and water. Mix well. Divide into three parts and roll out as thin as possible on greased cookie sheets. Bake in 350 F oven 15-20 minutes, or until lightly browned and crisp. If dough is not completely dry, turn oven off and let it remain longer. Break into small pieces. Store in airtight container. Makes 1 lb of cereal.