The earth boring bit 10 is designed to bore an angular non-vertical hole into underlying strata. The bit 10 includes a plurality of steeply inclined cutting faces or edges 22 that define a relatively narrow included angle A therebetween. The bit's design ensures that the apex of the bit 10 will contact the surface S and/or other hard strata before the radially outwardly disposed gauge portion of the bit 10. This design reduces or obviates drill chattering or “walking” when the bit 10 is used to drill a hole at an angle that is not vertical relative to the surface or strata S. The bit 10 also includes an interchangeable flow control restrictor that optimizes the velocity of fluid pumped through the bit 10 and thus efficiently flushes debris from the hole as the hole is being drilled.