Punisher: First Round

Low budget film with the Punisher and Wolverine in it.

The Punisher kills his way up the ladder of organized crime in NYC. He is relentless in his hunt for the Kingpin but before he can complete his revenge, one man stands in the Punisher's way, Wolverine. Straight from the comics. It's the ultimate Battle royal. Skull vs. Claws! Only one will walk away!

Here is only the second part of the movie.

Official site