If it works, your problem was caused by mods. It will not affect OBSE as that is installed in the Oblivion folder. This will be your unmodified game, (also called vanilla) with the official patch already installed (if you installed it already) back to the exact configuration it was in before you installed any mods. Copy - do not move the following files from your oldata to the new data folder
to put back only what is needed, create a new Oblivion\data folder where the original was located. This removes all mods completely - unfortunately it removes everything. Rename your \data folder to something like \oldata.
Instead of reinstalling the entire game, try this: