Combine butter, sugar, eggs and vanilla. In a blender or food processor, process the oats until finely chopped. In separate bowl, combine oats, flour, baking powder and bicarb soda. Mix flour mixture into butter mixture. Stir in the chocolate chips.
Roll dough into golf ball sized balls. Place on baking trays and flatten with a fork. Bake for 6 to 8 minutes, but don't overbake. When they come out of the oven, the biscuits will be soft. Press a chocolate chunk into the centre of each.