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Be careful..... rushing at finding a cure can cause more problems.
Dino is suggesting you drill a small hole and use an 'easy-out'. Just go to Ebay and type "easy out".
They work well BUT..... you MUST make sure you drill the pilot hole DEAD STRAIGHT!.
If you cannot grip the stud with mole grips etc., then smooth off the 'top' until you can 'punch' a small 'dot' into the DEAD CENTRE of the broken stub. Drill the hole using that 'dot' but make CERTAIN it's parallel to the stud.
You then wind the 'easy-out' ANTI-clockwise into the hole with a spanner and that should extract the stud. The problems arise if you fail to keep the easy-out STRAIGHT when you are spannering it IN. It can break and leave itself embedded in the hole.
Drilling the stud out is not THAT awful. Done well, you don't have to fear 'tapping'. Personally, I'd look at using a 'Helicoil' or the equivavlent.
http://shop.ebay.co.uk/i.html?_nkw=helicoil&_sacat=0&_odkw=thread+repair&_osacat=0&_trksid=p3286.c0.m270.l1313
You drill out the hole FRCATIONALLY larger than it is at the moment and then 'tap' the hole and you then fit the 'helicoil' into the hole which (if you have chosen correctly, returns the thread back to the size that you began with. Heliocoil kist usually come with all the tools you'll need, except the electric drill.
If you are nervous about this..... take it to an engine man or a small engineering works.
Ian
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