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This is the Differential Pinion Shaft Lock Bolt Extractor Kit from Fabbri Associates. I got this kit plus a new lockbolt for 35-40 bucks. It's a long drill bit, plus two guide bolts and two extractors. The longer bit puts the drill out next to the axle shaft and you can get a good angle to drill the bolt. You could save the money and go get a long bit at the store, but I do recommend buying this kit. The key is the guide bolts. As you see in the pic, it's a proper size bolt drilled out in the middle. Without this guide bolt, the bit will jump and you run the risk of burring the threads in the hole.
Screw the guide bolt in till it hits the broken bolt and start drilling. Drill in pretty good. Then take one of the two extractors they provide. I used the square one, put it in the hole, and gave it few taps with the hammer to set it in the drilled hole. My neighbor gave me a T-handle to a tap and die kit that I used to turn extractor and back out the bolt. You can use plyers to turn the bolt out.
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