That's about all the details we have at this point, but if it's more content for Oblivion, it automatically qualifies as good news. Speculation - it adds a new land mass. An island. Perhaps covered with snow?
Evidently ZeniMax Media had patented the name 'Shivering Isles" back in August, so hopefully progress is well underway. Oblivion is so damn huge, it's a wonder anyone can finish the previous content before the new stuff is added.

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