This looks like the next generation of Fan Fiction -- a 40 minute "movie" that was fan made that serves as a prequel of sorts for The Lord of the Rings. Their website is www.thehuntforgollum.com, but at present it appears to be down. Probably because of some of the publicity it is receiving at this point.
I heard about it on NPR this afternoon, and you can see the trailer on their website www.npr.org. Looks pretty impressive. the actual reelase of the film online is going to be this Sunday, May 3rd.