This lake was arguably the site of the first offshore oil wells in the world. Oil was discovered in this area in the 1850's, and wildcatters built wells across the lake, with an estimated over 150 oil wells located there. Their derricks dotted the horizon and contributed to the oil boom associated with Lima's oil fields. The rock in the eastern center of the lake marks the last working oil well on the lake, which continued operating into the 1940's. Because the wells stood on land leased from the state, strict requirements governed capping the well holes with a slurry mixture after production ended. Because the oil field was mapped early in the petroleum industry, the recovery process was not fully developed, and almost all of the natural gas associated with the field was lost. Geologists say oil remains buried in the field, but it is too expensive to remove from the ground at this time. Railroads entered the lake area in the 1870's, and rail lines ran through Celina by the 1880's. The Lake Erie and Western ran east and west along the north side of the lake, and the active shortline railroad R. J. Corman now occupies this line. Two other railroads, the Toledo, Delphous, and Burlington and the Van Wert, Celina and Star Line, connected Celina to points north and south, but these lines no longer exist. A remnant of the Toledo line, which was also part of the Northern Railroad and later part of the Penn Central Railroad, now forms the Celina Coldwater Bikeway. These railroads caused the premature demise of the canal system. An interurban railroad, the Western Ohio Railroad, connected Celina with Lima and helped spur the lake's development for recreation and summer resort use. This electric-powered rail line operated from 1901 to 1928, with its west terminus at Main and Market Street and stops along the north shore line. Its tracks paralleled the present SR 703 right-of-way to Saint Marys, and some of its more popular stops were near the two amusement parks located on the lake.