Yep, It sure is, if you have access to a book called the Amateurs Lathe by L.H.Sparey, it tells you how. As far as I recall, you must grind the drill flat, and the allow some backing off on
the trailing side. And to avoid snatching, it might be advisable to just take the "hook" from the cutting edge by means of an oil stone, this will alter the cutting rake, and make the drill less prone to snatch. As there is no offset in the centre of the drill -as for example in a slot drill.- you may not be able to take plunge cuts. Well worth a try, but practice on some old stuff first.. Hope this can help

Keith