Frontier City 411, a fan group for this park, says there will be an announcement tomorrow at 2pm that we won't want to miss. I assume that means they'll announce the new ride.
Since you guys know how much I love a good bit of speculation, I've put together one lass speculative guess for what they could be planning:
A 20-passenger flume ride from Hopkins/Skytrans Manufacturing with a basic up and down oval layout. One of these rides was just installed at a park in Alabama last year. These rides are cheap, can be set up fairly quickly, I assume they are being marketed fairly heavily due to the new Skytrans partnership, and of course: they make a huge splash. This speculation is highly optimistic and is based entirely on the fact that they put splash imagery in their teasers, and on what I see on the market right now that would give them a splash to tease about. This ride would fit right into the park, both physically due to it's small footprint and in a crowd pleasing sense due to the high number of people that can be entertained and cooled off at once. This is one of those rides that makes a huge splash that gets both riders and nearby spectators soaked. After looking at the park's website and seeing that they are literally marketing "something new for 2012" I can't see how they wouldn't be planning a new ride, unless they are really, really bad at marketing. And yes, this is something that can be built in a few months. Alabama's began construction in January I think and was open in May.
I don't know though, this is Frontier City after all and I'm so used to disappointment it hurts, but there are new owners now and the more I think about this the more it makes so much damn good sense for them. I just hope it's a ride of some sort.