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Drilling might well damage the frame threads. Avoid.
I agree with the above torx suggestion.
Second option is to use grabits (grab-bits?). Basically conical reverse drill bits, they chomp into the bolt head and grip it, and then when rotated further they start to unscrew the bolt. I have a full set you can come and use with me in N16.
Ndeipi
Hi guys, gotten into a slight pickle here. Bought a carbon frame off eBay from a seller assuring me that the port screws on the cable routing housing were merely 'rusty'. Well after cleaning them up with some WD40, I've realised they're not only rust as hell, they're also rounded. Completely. I managed to get 1/4 off, and interestingly, it screws into a steel casing/housing - this leads me to think that drilling them out might be an option? But you need a 2mm hex to get them out, which makes me worried that there won't be left handed drill piece small enough to fit. Anyone had this problem happen to them? If so, what did you do? Any shops in London that could drill this out?