Atronach Ring of Vitality readme and credit policy: 

Install: Put the .esp into your Data folder, activate 
in Oblivion Launcher and play! 

Credit Policy: You don't need ask my permission to 
make a modified version of this ring. Just toss a 
credit/namedrop my way if you're going to make your 
own version and upload. I welcome the spread of this 
mod, since this is something that Atronach users who 
want to "cheat" need. 

Since I used 1.2 Construction Set to make this mod, 
you'll need Shivering Isles. I would use TES Gecko, 
but I am still new to modding, so I have much to 
learn. If somebody could convert this ring so that 
it can be used with a vanilla game (if this .esp 
does not work with a vanilla Oblivion), that would 
be wonderful.

What this mod does: 
It's merely a simple .esp that adds the following 
must-have enchanting effects on Oblivion's generic 
magic apparel, the Ring of Vitality. It also sets 
it as a right-hand ring, in case you want to wear 
another ring you would like to enchant with your 
own enchantment.

The original ring gives 100% resistance to Disease, 
Paralysis and Poison, along with being worn on the 
left hand. With my mod, the ring now: 

- ...is worn on the right hand. 
- ...gives you a constant Night-Eye effect. (Shown 
in a screenshot with Timeslip's Night-Eye Shader 
Replacement.)
- ...allows you to Detect Life 105 ft from your 
character.
- ...gives you 50% Spell Absorption to compliment 
the Atronach birthsign's 50% to give your toon a 
100% chance to absorb incoming spells, both hostile 
and friendly.
- ...gives your character 100% Shield: on a toon 
wearing no armor, you get 85% armor rating, because 
85% is the cap. If your toon is wearing armor, they 
will get an 85% boost to their armor rating. 
- ...allows your toon to breathe underwater. 

Credits: 

Bethesda and Zenimax Studios for the Oblivion Construction 
Set v1.2. 

Screenshot Credits:

Timeslip's Night Eye Shader Replacement from the Nexus: 
http://www.nexusmods.com/oblivion/mods/7327

Forsaken32's Carry all you want from the Nexus: 
http://www.nexusmods.com/oblivion/mods/5118

Nuska's Oblivion Character Overhaul v1 from the Nexus: 
http://www.nexusmods.com/oblivion/mods/43612