InXile Entertainment - Working with Bethesda?

Blue's News points out that Brian Fargo hints, at Duck & Cover, at a possible coupling with Bethesda and it does sound like it's a new Wastelands game. Although that hint is as old as 2007.

Brian Fargo and InXile Entertainment might, in fact, be developing a game for Bethesda. Last time DAC spoke with Fargo, he informed us that he was working on a sequel to Wasteland, saying: "I am indeed looking into bringing back the game that spawned the Fallout series. Stay tuned...." 21 June 2007

Also note:

It is unknown at this time whether or not Fargo was being serious or just making a joke. Attempts were made to contact both inXile and Bethesda, but no response has been made as of yet.