Stir together 2 cups flour and the yeast. In a separate bowl, heat milk, water, oil, sugar and salt to lukewarm in microwave. Add all at once to the flour mixture, and beat until smooth, about 3 minutes.
Mix in enough flour to make a soft dough, 2 to 3 cups. Mix well. Dust a flat surface with flour, turn dough out onto floured surface, and let rest under bowl for about 10 minutes.
Shape dough into 12 slightly flat balls, and place on greased baking sheet to rise until doubled in size.
Bake in a preheated 400 degrees F (200 degrees C) oven for 12 to 15 minutes.