RE: Sheepshead (fresh water drum)
I used to catch them in the Mississippi on worms. If that won't work, then i would go with small pieces of crawfish tail or bait shrimp. My favorite rig was about a quarter ounce bullet weight held about 6 inches to a foot over the hook with a split shot weight. I used fairly small hooks, well below a 1/0.
Another thought would be to try freshwater clams if you have them in the lake. In Louisiana, drum are called clam breakers in French because they allegedly crack open freshwater clams shell for the meat.