I hate to keep bringing up the inconvenient game video, but if you go to slow motion replay at 2:02:20, just as Frank Broyles is saying "As bad a call as you'll ever see," the side judge comes running into the picture, arms above his head, marking the ball down at the spot of the non-fumble. If an unseen official had blown the play dead several seconds earlier and the side judge was aware of that, he would have been nowhere near the 19-yard line - he would have been near the pile of players scrambling for the ball, blowing his whistle and trying to tell them the play was blown dead.
If, on the other hand, another official blew the play dead and the side judge was not aware of it, the only reason for him to mark the ball at the 19 is if he thought Phelps was down by contact and OU should be awarded the ball at the 19 - and I believe that's exactly the call that was made. I'm not saying this official intentionally butchered the call as part of a conspiracy, only that he completely butchered the call, and that's how OU ended up getting the ball at the 19-yard line. I come to this conclusion based on every single action the officials took as this play unfolded and immediately after it ended. Whether you come to the same conclusion or not, I really don't care. You bought the other explanation right from "Phelps caught the ball out of bounds."