Art wrote...
If you have an existing 1/4" dia hole (1/2" deep), and want to drill
a new hole of 1/2" dia and offset it .040" from the center of the 1/4
hole but you only have a drill press how would you do it?

Plug the existing hole, punch the new center, and drill the new hole. Use
the same material to plug the hole. Size the plug for an interference
fit.

Jim