If the deal is sealed, Oyelowo will also star in the movie as Amos. The project is written by newbie writer Emily Needell, reported Deadline.
"The Water Man" centres on a precocious young boy named Gunner who, in order to save his sick mother, runs away from home to find a magical figure called "The Water Man", who has been rumoured to be able to cheat death.
Winfrey produced and co-starred Oyelowo in "Selma", which was nominated for Oscars' best picture and took home best original song award.