This was posted 3 days ago on 1up.com, I'm sure there are more Elder Scrolls fans out there than just me, read this!
It's been nearly five years since Bethesda released The Elder Scrolls IV: Oblivion, so when will fans finally see a sequel? Pretty soon, if a new rumor turns out to be true. Eurogamer's Denmark arm reports that a source informed them The Elder Scrolls V is currently in development, and will be a direct continuation of the events in Oblivion.
As Eurogamer Denmark's report states (translated into English), "this source not only confirmed that the game is in current production, but also spoke briefly about the content -- with fantasy-sounding phrases like Dragon Lord, something with The Blades." The report says this source had "official game documents in hand" to prove all this, and that yes, this will be "the chronological sequel to what happened in The Elder Scrolls IV: Oblivion."
There's been a lot of odd back-and-forth about a potential Oblivion sequel in the past couple of years. Back in 2009, Bethesda's Todd Howard said they were currently working on their "next big game," but also said it was not The Elder Scrolls V, and that there were "no current plans" to make it. However, later that year, a blurb for a novel set in the Elder Scrolls universe described it as "[bridging] the gap for the next game, which is set 200 years after the Oblivion crisis."
Still, both of those stories are over a year old by now, so who knows where Bethesda stands on The Elder Scrolls V at this point. When more info on this supposed sequel pops up, we'll pass it on.
I'm very excited if these rumors turn out to be true, me and many others have been waiting for a sequel for a long time now. I have no doubt in my mind that when the sequel comes out, it will get game of the year no problem
source: http://www.1up.com/news/rumor-elder-scrolls-v-development