What separated Shadow of Mordor from the rest of the games we had a few years ago was that it came with a new Nemesis System. We’ve never had a game that had a live Nemesis system like that and it was interesting to see how the game changed with the system.
In some of the interviews, the developers mentioned that they could have done more with the Nemesis system and that they will be adding more features. That along with the end of Shadow of Mordor 2 has led to many of the fans believing that the developers wanted to work on a sequel.
However, no announcement was ever made. There was a leak where the title of the game was spotted in a resume of a stunt actress but that was it.
If the developers do work on a sequel, we are all hoping that the game will still be set before the fellowship and that maybe, this time, we will get a slightly larger map to pay with.