Drain clams; add clam juice & water to juice to make 2 cups. Set aside.
Saut� bacon until crispy add onion, and celery saut� until tender. Add potatoes cook 2 minutes adding thyme, S&P. Add the clam juice mixture simmer about 10 minutes until potatoes are tender. Add clams.
Make your roux by mixing the flour and oil in a separate pan. Stir constantly when it begins to buddle whisk as much as you need into the soup to thicken. Add milk until you have the consistency you want.