According to European rumors, the next Elder Scrolls game is in the works and will be a direct sequel to Elder Scrolls: Oblivion The rumors don't exactly go far into depth about Elder Scroll 5, except to say that the voice acting for the game is happening in the weeks to follow. Eurogamer's source "spoke briefly about the content - with fantasy-sounding phrases like Dragon Lord, something with The Blades."
There might not be any confirmed information on the title, but, according to an interview with Todd Howard on Eurogamer, we do know that the majority of Bethesda's staff has been working on an unannounced title using technology was derived from the engine that powered Fallout 3.
"Fallout 3 technically does a lot more than Oblivion. The new stuff is an even bigger jump from that," Howard told Eurogamer. "I can say it is on the existing platforms, which we're really happy with. You almost feel like you have a new console when you see the game," Howard added.
I don't know about you, but I'd put a lot of money on Howard talking about the next Elder Scrolls game in that interview. Not exactly a surprise, but encouraging news.
Howard says the "lag time" between the official reveal of the game and its release will be shorter than past Bethesda games.