According to an interview with the Daily Dementia with Oddworld head Lorne Lanning, the next title from the company will no longer be using the Unreal engine (thanks FGNOnline). Here's a quote:

The problem with licensing game engines in general, is they're very highly and specifically designed to specific performances, and the reason Unreal shined well in its day, was because it was very hard-wired into a specific way of utilizing its own world and the hardware specifics of that time...but when you want to extrapolate and make more complex worlds, and really break a lot of the rules that have existed, then those tools don't seem to have as great of an impact as you hoped they would, because they're kind of embedded in a history...in the final analysis, it looks today as though we will not be using Unreal.