This is a program which can be used to manage your oblivion mod collection. It handles the installation and uninstallation of mods, and can also detect some conflicts between them. Never again will a mod overwrite some of your favorite textures without warning.
This program mainly deals with mods stored in the omod format. You can use it as a more advanced version of the data files menu on the oblivion launcher, but to use several of its features you will need to convert mods into omod format. As long as the modder has packaged the mod nicely, then this should be a simple case of clicking 'create omod', 'add archive', selecting your newly downloaded mod and clicking create. Even better, mods which are originally distributed in omod format can have scripts attached to automatically set up the correct load order of esps, manage conflicts, register bsa archives, make edits to oblivion.ini and more.