Well… well… well… remember that post I made about Ms. Penélope possibly being in talks for the upcoming “Pirates of the Caribbean: On Stranger Tides” film alongside Johnny Depp? Well, it looks like things just got very interesting. Here’s the latest information on that front.

Penelope Cruz is in negotiations to join Johnny Depp and sail the seven seas in “Pirates of the Caribbean: On Stranger Tides,” the fourth installment of the movie series being directed by Rob Marshall.

Depp is reprising his popular role of Captain Jack Sparrow, and while plot details are buried deeper than Blackbeard’s treasure, it is known the tale revolves around the Fountain of Youth.

Cruz’s character details are also being kept secret, though she is to be Sparrow’s foil and equal in many ways.

Terry Rossio and Ted Elliot wrote the script. Jerry Bruckheimer is producing.

For Cruz, the role reunites her with Marshall, who directed her in “Nine.” Her performance garnered her an Oscar nomination in the best supporting actress category just last week. She won the Oscar for best actress in a leading role for 2009′s “Vicky Cristina Barcelona.”

“Pirates” will set sail before cameras in Hawaii this summer. Disney plans for a May 20, 2011, release.