Ridley Scott announced a while back that he was planning two Alien prequels revolving around the back story to the alien race itself and the derelict ship featured in the first two films.
But it seems now that Damon Lindelof (of Lost fame) is working on the screenplay, things have changed. It is no longer a prequel, and it will only have “strands of DNA” from the alien franchise.
From Lindelof: “While Alien was indeed the jumping off point for this project, out of the creative process evolved a new, grand mythology and universe in which this original story takes place,” said Scott. “The keen fan will recognize strands of Alien’s DNA, so to speak, but the ideas tackled in this film are unique, large and provocative. I couldn’t be more pleased to have found the singular tale I’d been searching for, and finally return to this genre that’s so close to my heart.”
So I guess this means the movie will be 6 years long and disappoint us in the end by showing that Ripley was always dead and just dreaming. Oh and the Aliens came from a uncorked hole of light.