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Make sure the drill bit is new and sharp and as central as you can drill. I've used extractors and they will work off centre but it's not ideal. The act of, and heat from, the drilling might free it up too so if you could get hold of reverse drill bits that might work without resorting to the extractor.
I've just sheared a 5mm bolt in the front fork of my Surly Straggler.
I'm going to Screwfix tomorrow to buy a bolt extractor set, but I'm worried 5mm is too small.
I'm in East London - what's my best course of action?