Can I replace this pressure valve?

I just got this keg and it is leaking co2 even at 10psi through the pressure release valve. I tried to get the valve out, but I was unable to.

 

They are replaceable, but they have become extremely hard to find. We drill them out completely and replace the entire valve with one with a manual pressure relief valve like you would find on a ball lock style keg.
Here is what we use:
http://stores.kegconnection.com/Detail.bok?no=454

You have to drill a 3/4" hole with a hole saw. Frankly, it is a pain to do and we have a special jig for it, so it might be less trouble to replace the lid. Wish I had a better answer. Maybe someone else will know where to get the part.
Todd

 

That looks like a great replacement valve and a good solution kegconnection, maybe you could get away with using a cheap harbor freight stepbit instead of a holesaw & jig ?? Like this one ?

 

I soaked it for hours in oxy clean and it would not budge. I ended up having to drill it out..

I may grab one of those keg connection. I almost bought one when I placed an order during the final four sale and didn't because I figured I'd never use it...