A report on FGNOnline reports plans for the next installment in the Turok series will be, you got it, Turok Arena. here's the report:

N64: An Acclaim source has revealed that a new Turok game will arrive this December as planned, but it won't be called Turok 3. According to IGN64, Turok Arena is in the works. As the title suggests, the game will focus on multiplayer mayhem, including weapons and levels developed with four-player madness in mind. It is said Acclaim is also working on a Turok 3 title for release in 2000-2001 for Nintendo's next generation machine, though this is unsubstantiated.