Previously a closely guarded secret, the details of Oren Peli's Area 51, the follow-up to his no-budget phenomenon Paranormal Activity, have been blown wide open by the Latino Review, who took the secrecy as a "call to adventure".
Without wanting to get too spoilerific, it seems that we're very much looking at Paranormal Activity with aliens. Alien Activity, if you will. Three brothers, one of whom is an alien conspiracy nut with a new camera to test out, head for Vegas, where they meet Natalie, whose father claims to have been an alien-abductee. It transpires that the casino trip was a front for a quick visit to Roswell for video evidence, leading to much danger and excitement, first with security systems, and then with martians (or whatever).
Since the material itself is so familiar it's the treatment that's going to have to carry this, and Peli is in an unenviable position of being expected to pull off the same trick for a second time: only now with a budget. The novelty return to Blair Witch shakeycam is going to pall rather quickly, so lets hope he pulls this off with spectacular aplomb and then moves on to different things. The last thing anyone wants is Paranormal Activity: Book of Shadows.