Re-Volt, the earliest first-person shooter announced for iPhone and iPod touch back in May 2008, has been indefinitely shelved.

Vancouver-based development studio IUGO confirmed in a statement to us that it has stopped work on the game to pursue other projects.

According to Sarah Thompson, the company's Director of Business Development, the game was original intended only as a tech demo. "We got so much positive feedback from it that we thought it would be awesome to make a game from it," she explains.

"As we jumped into iPhone development we always talked about Re-Volt and when we should take on the gargantuan project. We knew that this would be the riskiest project IUGO had ever done but would also showcase our capabilities technically and creatively to the maximum."

Thompson continues, "As time went on, the App Store continued along its volatile and unpredictable course and we became less confident that Re-Volt was a good match for the platform. So, as it stands now, Re-Volt has been shelved but not forgotten."

Not all hope for the game is lost, however, as Thompson points to the potential for revisiting the concept at a future date or different platform.

"Perhaps it will make a comeback once the environment is ideal for such a game…or perhaps it will pop up on another platform. It’s sad, but this is the nature of the gaming business. Not all projects come to fruition."

While you won't be powering on Re-Volt on your iPhone or iPod touch anytime soon, IUGO has plenty of great iPhone titles available now on the App Store including Star Hogs, Spy Bot Chronicles, and Toy Bot Mini Missions.