According to this, yes. Don’t believe it. You heard it here first.

From the blog:

Walt Disney Parks and Resorts has announced extensive plans to convert the old Discovery Island in Bay Lake to a new Lost-themed attraction. Lost Island is set to receive guests by the Summer of 2011, a year after the show concludes its six-year run on ABC.“We strong believe that the show will live on in popularity after its conclusion. This type of show can be successful in syndication for decades and with the advent of DVD—sales of which have been very high for this series—there is clear evidence that Lost will remain popular well after next Spring’s series finale,” said Celandine Coda, vice chairman of Walt Disney Parks and Resorts.The immersive experience will bring guests to the islands in disparate ways, providing two distinct experiences per each trip to the island. The attraction is also unique as the exploration of the island in its entirety forms one complete experience, however each area of the island works as an individual attraction.“We have this great experience for the Swan station which guests get to tour as if they were the survivors first discovering the infamous ‘hatch’. But suddenly things go wrong and this station tour becomes a ride! It’s an extension of the Imagineering used in rides such as The Twilight Zone Tower of Terror and Star Tours taken to the next level!”, explained Coda.

Imagineers will use similar technology to give the infamous smoke-monster a presence on the island, much like it was displayed in the first season. “There were some obvious issues with depicting the monster the way it’s been portrayed in recent seasons so we took a page from those initial episodes and cast the monster into the trees,” detailed Coda.

Ummmm…One of the anagrams for “Celandine Coda” is:

OCEANIC LANDED