Here is the entire transcription from Leadbelly's concert of June 15, 1949, recorded live at the University of Texas in Austin. (Leadbelly had just performed the field holler "Ho Day.") I think I've got it around 99.99% accurate.

Leadbelly (Spoken):

Now, this is gonna be a different holler, and this is when a man is drivin' mules, and drivin' oxens, and workin' in the field. My mother used to call this a "cornfield holler," but just still, I'm still hollerin'. I wouldn't let her hear me, 'cause she wanted me to go to church and sing the spirituals, what, I wanted to sing that cornfield holler, little boy, because I liked to!

Now, I'm gonna holler one for you. But, when she was livin' at the time and I was little, I wouldn't let her hear me holler it - but I'm still hollerin' 'em, and this is "Ain't Goin' Down To The Well No More," and that means, "I ain't goin' down to the well no more," that means a whole lotsa things - 'cause a lotsa boys sometime makes a error, and gets in jail. When they be lucky enough to get out - uh-uh! - no, they ain't goin' back there no more! Or sometime, a fella might be gamblin' and he lose all his money...got to go home to his wife - uh-uh! - no, he ain't gonna do that no more! [Audience laughs] That's what I mean...what I mean, "ain't goin' down to the well no more." And the boy started hollerin':

Ohhh...ohhh...Lord, Lord,
Ain't goin' down,
I ain't goin' down,
Oh baby, to the well no more.

Ohhh...I'm the true believer,
Ohhh...I'm the true believer,
Ohhh...I ain't goin' down,
I ain't goin' down,
Oh baby, to the well no more.

Ohhh...if I ever gets able,
If I ever gets able,
Able to pay this debt I owe,

Ohhh...I ain't goin' down,
I ain't goin' down,
Oh baby, to the well no more.

Ohhh...whoa!