Today on the PlayStation blog, Zsolt Kigyossy (Managing Director of Zen Studios) announced a new Punisher game called Punisher No Mercy will be coming exclusively to the PSN.
The game will feature a first person perspective with arena-based multiplayer gameplay. The game will also run on the Unreal Engine 3 - which is probably the best engine for a FPS game. This game will mark the first FPS developed solely for the PSN.
Zen Studios have set up an official website for the game and will update it to provide more details as they come. You can visit the site at http://www.punishernomercy.com/