Well after a few weeks of soaking it with plus gas I finally plucked up the courage to give it a go. It was sheared below the level of the hub so I couldn't have got mole grips on it. I didn't bother taking the wheel or drive member off at all. I simply pilot drilled it with an 1/8" cobalt drill. Opened it up with a 3/16" cobalt drill and then used a 1/4 left handed titanium drill and it came out on the drill! I replaced it with a new bolt and torqued it up to 65 Nm. Job done! Took about ten minutes. Well happy!
 

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