It's a rather small bolt but if you have a steady hand you should be able to drill it out.
The threaded hole goes all the way through, so it's likely that the drill will just catch at some point and run it out the back side.
Soak it with some Liquid Wrench for several hours before you start and use a very small drill bit. I would start with nothing larger than 1/16", preferably smaller. Get it as centered as you can, this can be tough with broken bolts so use a center punch and make sure you have a very good depression punched in the bolt.
Take your time and drill straight. Gradually progress to larger bits until your in danger of hitting the threads.
If it hasn't come out yet you'll need to use an easy out.
Good luck.
P.S. If you have access to left hand bits and a reversible drill, you'll have a better chance of the drill pulling the broken bolt out.
