Update:

Black Lagoon's 3rd Anime to be an OVA project, instead of a full television series.
http://www.animenewsnetwork.com/news...roject-in-2010

The August issue of Shogakukan's Monthly Sunday GX magazine will confirm on Saturday that the third Black Lagoon anime project will be an original video anime (OVA) project in 2010. Director Sunao Katabuchi will return from the first two Black Lagoon anime projects, along with character designer Masanori Shino and the Madhouse anime studio. Megumi Toyoguchi will reprise her role as the female pirate Revy. The story revolves around a typical Japanese businessman who gets caught up in the escapades of modern-day pirate mercenaries off the Asian shores.

Viz Media will publish the seventh volume of Rei Hiroe's original adventure manga next month. Geneon Entertainment released part of the Black Lagoon anime in North America, but Funimation has since agreed to take over distribution of the anime. Funimation reissued the first anime series and started the DVD release of the Black Lagoon: The Second Barrage series last August.

I find this a little strange, as the Dance of Death arc in the manga (which isn't even over to my knowledge) could fill 12 episodes with what they've released so far. Maybe we will be lucky and they will be uncensored 40 minute OVAs like Mnemosyne.