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You already have a hole drilled in the centre of the plug. (Redhole)
Drill 2 smaller holes on opposite sides of the first hole.(2 Greenholes)
Keep the holes off the thread.
Grab a big Flathead screwdriver, Hammer it in the hole 'til it's stuck.
Grab the screwdriver with a pair of vice grips, and twist it out, keep pressure down on the screwdriver while you do it. You might need a lever bar.