The problem with trying to do any kind of thread repair is getting the hole drilled and tapped straight. With nothing to reference to, it is impossible to use a drill guide, eye-balling it is a gamble at best. (A bad gamble if I'm holding the drill!)
If the pan is accessible the best solution would be to replace it.
If I were going to try repairing it installed, I think (without seeing it) I would pull the Helicoil out, carefully try to drill the straightest hole possible and tap it for taper pipe thread. (Just an FYI, a taper tap only goes part way into the hole, typically leave about 6 threads showing). Reason for using taper pipe, a taper thread hole is more forgiving of being crooked that an Oring or gasket type plug.
To minimize chips, dip the drill and tap in heavy grease to "help" trap the chips, rinse the hole with spray cleaner afterward. Work it with the hole in the downward position.
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Today's Featured Article - Upgrading an Oliver Super 55 Electrical System - by Dennis Hawkins. My old Oliver Super 55 has been just sitting and rusting for several years now. I really hate to see a good tractor being treated that way, but not being able to start it without a 30 minute point filing ritual every time contributed to its demise. If it would just start when I turn the key, then I would use it more often. In addition to a bad case of old age, most of the tractor's original electrical system was simply too unreliable to keep. The main focus of this page is to show how I upgr
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