If you're drilling it out then it sounds like you're aware of those tools where you drill a hole in the bolt and then crank the tool in counter-clockwise, and once it grabs, it will start removing the bolt? Not sure if that even helps though because that's more for when a bolt head snaps off, and your problem is that the bolt is frozen. I just wanted to make sure I mention it just in case, since you're at the point of giving up.