Capcom have managed to let slip that a third outing in the Lost Planet franchise is in the works.

A video was briefly uploaded to YouTube confirming the games existence early last week. Capcom were quick to have the video taken down, but not before the internet was abuzz with surprise and speculation.

Not one to waist an opportunity, Capcom quickly added the new third-person shooter installment to its already crowded announcement list at its annual showcase event, Captivate, in Rome a few days later.

Development duties for Lost Planet 3 have supposedly fallen into the hands of Spark Entertainment, who have previously released the equally disappointing FPS titles Legendary: The Box and Turning Point: Fall of Liberty.  A bold move considering the studio’s previous FPS-focused experience, but Capcom are clearly hoping Spark will find their stride in such a rich and established universe.

Both Lost Planet and its 2010 sequel were developed internally at Capcom, so the decision to outsource the games development to a third party is something of a risk with such an established title. Using Western developers to work on Eastern IPs has had mixed results in the past, from the success of Dead Rising to the reboot car crash of Bionic Commando.

The unexpected reveal came at rather unfortunate time as the gaming world’s attention was focused firmly on the new Resident Evil 6 and Devil May Cry reboot trailers showcased at same event. With further information on both these franchises trickling out of Capcom HQ, you can expect further information on the sci-fi threequel in the coming weeks.

Lost Planet 3 will be released for PlayStation 3 and Xbox 360 in 2013.