I will only address drilling the well. See if the landowner will give you a long term (10 yr) lease with the provision that if he terminates the lease early you get reimbursed a certain percentage per year. Say 10% per year for 10 years. So for example if lease is terminated after year 5 you woould get 50% reimbursement. After the 10 years you could consider it a sunk cost. Might need to put a max amount that will be spent to make him happy. Then if you have to spend over that amount it's on you.

Alternatively, see if he will put in well and you pay him 10%/yr for 10 years on top of lease amt w/o well.