In reality the ONLY way to do it is to drill the head of the bolt off remove the head and then get the stud out that is left behind...... Don't need to worry about the swarf as the HEAD IS COMING OFF so can be cleaned once removed.....
Some of the suggestions above are clearly made by people who don't have a clue about removal of a Cosworth cylinder head and don't realise the severe lack of room where the head of the head bolt sits!!!!
Good luck
Steve