broken oil pan bolt in block

[twothrees]

Compliments of the Previous Owner or PO's mechanic:

To solve a leaky oil pan gasket, some d#@wad decided to overtorque the bolt closest to the bellhousing and break it off in the block. They then smeared some sealant under pan. This is what greeted me when I took off the cover plate, all ready and excited to finally replace my oil pan leak. Nice.

I tried cutting a slot with a dremel and use a screw driver, no luck. Then I tried a screw extractor which broke off in the bolt. I had heard that was common, but I had to try. It is so close to the flywheel/bellhousing that I can't really get a straight shot at it.

I guess I have two options:
1) Disconnect trans and try drilling/screw extractor again. Tap or heli coil it.
2) Call it a day and put the new oil pan gasket on and smear some rtv grey around the broken bolt area and live with a drip or two.

I am going for door number 2. The block has 280k on it. Although it does have a new head and feels fine, I was planning on doing a 24v swap within a couple of years. So there's the decision unless someone has a better idea.

I just wanted to bitch, but I do have a question. Anyone have recommendations besides using RTV grey around the broken bolt?

[Adrian_Visser]

its got 280k on it eh, how bad does it leak? are we talkin the odd drip or major leak?
drilling out a screw extractor isnt easy... the metal its made of is harder than a drill bit... if it's really a problem and you feel you have to do something about it buy the best damn drill bit you can no cheap shit we're talkin cobalt at least or even carbide... buy a couple you'll prolly wear one out. then drill the bitch out and heli-coil the mofo. seriously though is it worth the effort? its just an oil leak.