Oil filter cover- long bolt broke- repair options?

So the long bolt that holds the oil filter cover (top right bolt if looking at the cover) was missing when I bought my 2005. The cover is tight and does not leak oil- or appear to have leaked oil in the past. Anyways- the seller gave me the impression the bolt was just missing. So I ordered a new bolt and when I tried to put it in-- it was clear that the threads were broken off. This bolt is quite long and there is plenty of room to thread the hole and tap a new - shorter screw into it. Just want to get thoughts on if this would be a good way to fix this. I dont want to continue with only 2 bolts holding the oil filter cover.

Thanks