Three things I would try.
1. Get an aerosol can of 'Plus Gas', or 'heat freeze' and use them. WD40 is not a lubricant, it is a water dispersing agent and whilst good for most things doesn't always cut it for this type of job.
Soak the threads in Plus Gas (which is a parrafin based penetrant) and leave for an hour or two. Or try 'Heat Freeze' it is a mixture of parrafin plus it feezes any rust/corrosion, and the thawing action breaks up any corrosion around the threads, hopefully freeing them up.
2. File the top of the protruding bolt flat (as said before) and use a centre punch to punch two indents on the face of the bolt 180 degrees apart near the outer edge. Then hit each indent in turn anti clockwise swithing to opposite indents each time, the shock will likely get it moving.
3. Heat! use a blowtorch to heat the surrounding area up gently all over and when hot use method 2 above.
I have never had any succes in using bolt removers (easy outs) they are usually made of too soft a metal and just spin round on the job.
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