AceShowbiz -

Walt Disney Pictures has finally unveiled the first teaser poster for its upcoming movie "Oz: The Great and Powerful". The one-sheet teases a fantasy world where a hot air balloon is pictured braving the storm to reach a sparkling city far across a beautiful terrain.

The fantasy movie is designed as a prequel to the iconic 1939 film "The Wizard of Oz". When Oscar Diggs, a small-time circus magician with dubious ethics, is hurled away from dusty Kansas to the vibrant Land of Oz, he thinks he's hit the jackpot-fame and fortune.

That only lasts until he meets three witches, Theodora, Evanora and Glinda, who are not convinced he is the great wizard everyone's been expecting. Reluctantly drawn into the epic problems facing the Land of Oz and its inhabitants, Oscar must find out who is good and who is evil before it is too late.

Starring as the titular magician is James Franco. He's joined by Mila Kunis as Theodora, Rachel Weisz as Evanora, and Michelle Williams as Glinda. Serving behind the lens is "Spider-Man" helmer Sam Raimi, while Mitchell Kapner writes the script.

"Oz: The Great and Powerful" is set to hold a presentation with director Raimi in attendance during a Disney panel at the 2012 San Diego Comic-Con. The panel will take place at Hall H on Thursday, July 12. In addition to "Oz", Disney will bring Tim Burton's "Frankenweenie" and Rich Moore's "Wreck-It Ralph" to the annual convention.