Did Danny McBride secretly make a Crocodile Dundee sequel?

Either Danny McBride is the world's best secret keeper, or he's successfully pulled off the world's most elaborate practical joke. 

In a baffling news break, McBride unveiled the first look at his new project, Dundee: The Son of a Legend Returns Home, the follow-up to one of Australia's most iconic movie franchises ever. McBride, who was thought to be funneling all of his creative juices into his Halloween reboot, leads the film as Brian Dundee, the long-lost child of fabled bushman and reptile wrangler Mick "Crocodile" Dundee. And before you ask, yes, original Crocodile Dundee actor Paul Hogan returns to reprise his role.

The teaser footage shows McBride addressing the audience in brash Aussie fashion–"G'day, losers!"–and then recreating the Crocodile Dundee series' most famous line when he faces the camera and quips, "That's not a knife. That's a knife." He proceeds to gesticulate wildly and wave the Bowie knife around, urging us all to look at it play. 

Check it out in all its weirdness above. 

Based on that campy, super-clipped first look, it's easy to brush the whole thing off as a joke. But do a little digging, and you'll discover that it's apparently legitimate. Dundee: The Son of a Legend Returns Home has its own website, which includes a handful of production stills and details a bit more about McBride's character. "Unlike his father, Brian grew up a true city kid. But that won't stop him from picking up his dad's oversized knife and launching himself into the Australian Outback, completely unprepared for what lies ahead." 

The fact that both McBride and Hogan spoke exclusively with PEOPLE to announce Dundee: The Son of a Legend Returns Home makes the project, no matter its ostensible zaniness, all the more authentic.  

"Crocodile Dundee is a film that has stood the test of time. It was a defining moment in my life and one of my proudest accomplishments. Throughout the past few years, I've been thinking about how to bring Dundee to a new generation," said Hogan. "I'm excited to introduce the new Crocodile Dundee to the world and look forward to sharing more news about those involved very soon." McBride added, "I'm not going to lie to you, to be a real Crocodile Dundee, I think 95 percent of it is the vest and then 5 percent is just being able to not fall down and stay on your feet." 

Here's the official synopsis for the upcoming movie: "Crocodile Dundee is back. Well, actually, he's missing in the Outback. And the only person who might be able to find him is the loudmouthed American son no one knew he had. Introducing Danny McBride as Brian Dundee. The son of a legend is forced to channel his Aussie roots as he embarks on the ultimate adventure in the land down under." 

Dundee: The Son of a Legend Returns Home is expected to hit theaters this summer. (We can hardly believe it either.)