Stripped phillips head bolt holding in fuel filter on 1991 560SEL

[HuskyMan]

OK, I think I got some bad gas (possibly water and/or dirt, car lugs out bad at low RPM or idle, will die if I don't keep RPMs up when at a stop). so.....I'm in the process of changing out the fuel filter and will add HEET to the fuel tank and fill up with gas and pray.

Unfortunately, I stripped out the phillips head on the bolt that holds the fuel filter in.

In order to extract the bolt, I purchased a Craftsman Drill-Out Micro Power Extractors kit from our friends at Sears. The bolt measures .19 inches in diameter which means I should use the #10 M5 extractor size.

My drill has a right hand drive and is reversible. The instructions say to always use the drill in the reverse (counter clockwise) setting and to drill at very low speed, approximately 75 to 100 rpm. When drilling, never let cutter revolve against the bolt without cutting.

The instructions say "Stop drilling every 10 seconds or 1/16" (2mm) of depth, to clean out chips from hole and add cutting oil to hole. Veryfiy each time that you are drilling on center and straight." I looked around my pile of goodies and located some Gunk Super Oil "The Premium Household Oil". Will this oil work in this scenario or do I need to go buy actual cutting oil??