obge is an obse plugin designed to add some of the extra scripting functions to oblivion that mge provided for morrowind. It currently adds support for fullscreen shaders and extra HUD elements, provides information about graphics memory and screen resolution and allows you to clear some of oblivions textures from graphics memory.
For a couple of reasons, this is a much smaller scale project than mge. mge was written many years after morrowind was originally released, and the advances in graphics technology meant that I had lots of spare processing power to work with. This is not currently the case with oblivion, which stresses even the most powerful of today's graphics cards. Also, Morrowind used dx8, which is close enough to dx9 that it was easy for mge to patch from one to the other and make use of the extra features dx9 offered. Oblivion already uses dx9, and converting to dx10 is much harder due to the greater differences between them.
Requires obse v0011 or newer. If you don't use obmm, download the source code and copy the 'obge.dll' file from the release folder into oblivions \data\obse\plugins\ folder