Valve's next FPS title Half Life 3 has not yet been officially announced but various rumours about the game have already surfaced.

Valve Corporation, known for its signature game Half Life, has spun six main titles and two spin-off games since the game first released in 1998. 1999's Half Life: Opposing Force, 2001'S Half Life: Blue Shift and Half Life: Decay, 2004's Half Life 2, 2006's Half Life 2: Episode One and 2007's Half Life 2: Episode Two followed the firts title.

The third on in the episodic expansions - Half-Life 2: Episode Three - had been announced for a 2007 release but following series of delays in its production, Valve refused to comment further on the title and the project was shelved.

However, Gaming Bolt reports that the studio has formed two core teams totally dedicated to bringing Half Life 3 to life.

It was reportedly stated that the studio had "bits and pieces" in place for the new game before the public came to know about it. The report also says that since it takes a lot of time to put all of them together and with Valve's Steam Machines, Steam Controller and SteamOS being part of its resorces, the release of the new game might take time.

The report also suggests that Valve might be testing the game with Steam Machines to bring out a Steam exclusive. It may take three to four years before any news about the game trickling out of the studio or it might even surprise its fans by showcasing it at E3 2014, like it did for Half Life 2.

Society&Religion reports that the reason why Valve is not announcing information on the game could be due to it "trying to avoid the Half-Life IP because they don't want to be a Half Life factory and want to be known as more than just a Half Life developer."?

A NeoGAF (video game forum) user had unearthed a trademarked Half Life 3 for Europe by its maker Valve on 1 October. Though such trademark registrations are not proof that a new game will be out, fans love to hear any information or rumour that leaks out, Kotaku reported.