It's possible you're thinking of another acronym related to surveying, such as:
* L.O.L.: This could stand for "Level of Land", though it's not a common or standard term.
* LOL: This could also stand for "Line of Levels", which refers to a series of measurements taken to determine the elevation of a point.
If you can provide more context or the full phrase where you encountered "lol," I might be able to help you understand its meaning.