When I got back to the boat today i realized I was looking at the wrong area. The bolt was actually broken half an inch inside the block but luckily it was a clean, flat break. I center punched it and started with the left hand bits. I also drilled a small hole into the block at a 90 degree angle to the threads to get more penetrating fluid in there. The drilling wasn't go very strait and i almost gave up. Too much more off center and I would have drilled into the water jacket and it would have been game over. I straightened the hole with my dremel and went to the largest size bit. A few seconds and that sucker came right out. I did mess up some of the threads so I'll get some epoxy thread repair just to be safe. You gotta love the left hand drill bit! Thanks to everyone for their help. Hopefully there will be no more surprises on this project.
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