MICO, Texas -

Mike Crandall says its all the buzz at Wally's Watersports in Mico: A very large hole in the lake bed has been exposed by the drought.

"The hole started to get noticed probably about a month ago, but it's been exposed for longer than that," Crandall said.

Photographs of the hole have locals on the east side of the lake flabbergasted and it has them coming up with all sorts of theories of what it could be.

"I've actually heard strange things like a UFO crash, a meteor (or a) natural spring," Crandall said.

The hole itself appears to be 50 feet deep and about 100 feet wide.

"It's just a sinkhole. It's always been there. It's been there for way over 100 years," said Leona Erb, a park ranger at Holiday Villages Resort, which is near to where the hole is in the lake bed.

She says the hole even has a name: Jacob's Well.


"I'm not really for sure," Erb said. "Bbefore some of the new people came in and called it 'Jacob's Well,' we just always called it 'the sinkhole.'"

So the mystery is solved -- until the water rises again and its forgotten until the next major drought.