A press release from Terminal during the DICE conference in Nevada reveals they've been testing out the Infernal Game Engine they've licensed.
Apparently they have a fully rendered 3D model of The Stranger from survival-horror game Nocturne (released in 1999) up and running in this next-gen engine. Something brewing?
The Infernal engine itself is trumped as great for multiplatform development. "Veteran monster-killer The Stranger (from Terminal Reality’s 1999 hit title NOCTURNE) appears here in his new incarnation, updated to take full advantage of Infernal Engine’s latest tech advances. The Stranger will be featured in upcoming Infernal Engine technology demos."
While officially it seems the character has been revived solely to demonstrate the power of this game engine, it surely couldn't be much of a stretch to put production in full swing?
Source: Blend Games