Very interesting indeed! Are we perhaps to infer that Oblivion is actually a genuine Dovahzuhl word which was eventually borrowed in Cyrodiilic via the Nords? Associating it with oblaan 'end' is tempting. Then again, the phonology of the word fits very poorly in the phonotax of the Dragon language.
Regarding loost 'hath' – the word is used in the sense 'possess', not as an auxiliary verb as in English "He has come". So it isn't necessarily a form of los 'is', is it? I see in the dictionary that there is also a verb lost 'have, was'; isn't it more likely that loost is a variant of this? An archaic variant, judging by the translation "hath".
Edit: on further consideration I realize that lost is probably regarded as an inflected form of los. Let's say los/lost covers the spectrum of 'is/was/has (been)/had (been)'. Maybe loost covers the sense of 'has' as purely a transitive verb "possess"?