This file fix some bugs left, even serious and gamebreaking bugs, in the original mod. This file provide only the two esp so it will require the original mod installed. If you encounter some bug left please report it.
Original mod:http://www.nexusmods.com/oblivion/mods/40950/?  Both file are suited(The Voiced or The Non-Voiced)

Requirement: Shivering Isle is required (thanks chambcra).   If you don't have SI installed edit in CS  the script "TheHoleMirrorPillarFirstScript" substitute the string DRSRuinsGate01Forward with DRSRustyGateClose and recompile and save. The substituted sound may seem a bit strange for the context.

Installation: Copy  the two esp provided in the Data folder and overwrite when asked. DO NOT Activate the TheHolePart2.esp file before it is prompted.
TheHolePart2.esp MUST be loaded AFTER TheHole.esp.

Warning: In the original download (for TheHolePart2) there is a  Data\meshes\landscapelod folder. If  you use tes4ll(that I suggest) ignore this folder and simply  re-run tes4ll with TheHolePart2.esp activated, when you are supposed to activate it. When you are supposed to deactivate it re-run tes4ll and tes4lodgen.
If you don't use tes4ll backup you data\meshes\distantlod folder and overwrite it with the file provided in the original archive when you must activate TheHolePart2.esp and restore the original folder when you must deactivate it.

Remember to do an archive invalidation after each action.

Original description:
One day, walking quietly along a road in Cyrodiil, you feel the ground shake beneath your feet. You keep your balance but an imperial
legionnaire up ahead of you falls from his horse to the road.

An earthquake. Unusual in this area of Tamriel. What can have caused it?
Before long you feel another tremor, stronger than the first. You almost
lose your balance this time, but across the region many others are not
so lucky.

Before long, talking to people, you can get an idea as to where the focus of the quakes is. And as you travel to the area, you
start to hear rumours of something strange going on.

The Hole is a quest mod for The Elder Scrolls 4: Oblivion. It stretches the
capabilities of Oblivion's game engine in ways no other mod has, with
new never before seen environments and a plot-line that takes you to
other realms, other times, and other realities, with warped space-time
causing untold harm to the world. Solve the mystery, and you have
started the quest. Once you know what is going on, you must prepare the
world for the biggest change it has ever faced. But before you can warn
the world, you must discover for yourself what lies ahead.

The Hole has multiple branching quest lines, with your actions determining
how the story unfolds. A number of side quests, red herrings, and major
choices will mean that you can play the game again and have a completely
different ending than before. Not just a few words different in an end
sequence, but different dungeons, different quests, and a completely
different ending. Make the wrong choice, and you could undo the work of
Martin Septim, and lead yourself on the road to evil.

With 14 hours of game play in its main branch, and another 6 hours available if
you play other branches, this is not a small mod.
15 major new dungeons
Several non-dungeon based quests
2 new worldspaces
30,000 lines of script code
3,000 lines of fully voice acted dialog

Each dungeon is designed to do something new, something never been seen
before in Oblivion. The whole game is Lore friendly, in fact it is very
deeply rooted in the Lore of the game.



Compatibility:
Potentially incompatible with Servant of the dawn if you start Servant of the Dawn quest before completing The Hole quest.