Go to a hardware store or home center. Get some 1″ or 1-1/4″ dowel rod. Cut off a 12″ piece. Take the drill of the size you need and drill into the dowel rod as far as you can. Ideally you want just enough of the drill sticking out to reach the bottom of the hole. Whack the tool with a hammer “handle”, or something similar, close to the cone to break it loose. Don’t know if yours is left or right handed thread. Getting the drill to go in straight is a challenge for me, but there is enough rod left over so I have a couple more chances. Even so, I might be heading back to the home center. Good luck.
A "Boathouse Repair" is one thats done without having tools or the skills to do it properly.