Yes, there is a lot of geology to be looked at afresh with new fracture-completion techniques. The Smackover Formation, e.g., is an oil-rich source rock that also received gas charges from the Norphlet Formation below (the Norphlet is the big producer in Mobile Bay and the Florida Panhandle offshore). The Smackover is a dense brown lime that might be susceptible of frac techniques; it has already produced great volumes of conventional oil, some of it from Jay Field located close to, or under, the Florida-Alabama state line.
There are other trends as well that need to be evaluated, and the Black Warrior Basin to the north in Alabama.
Some of the Appalachian Paleozoic trends (the Marcellus Shale) may extend through the Alabama Hills southwestward into the subsurface of central Alabama beneath the coastal plain and over into Misssissippi where the (buried) Appalachians swing around westward under the Mississippi Valley and are exposed again in Arkansas as the Boston (Ozark) Mountains and in Oklahoma as the Arbuckle Hills.
I was thinking offshore, but what you say makes sense also.