How old is the oil and what grade?
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To me it sounds like the engine ran without oil or the incorrect grade oil. I'd be draining the oil and checking for metallic particulates just to try and eliminate that possibility.
If it ran out of oil the first place to feel it will be the rocker gear, so
getting interesting now
where abouts in adelaide are you
i have a compression tester we can use
im in enfield
send us a pm and we can work something out
so as everyone knows circumstantial change. i now start my apprenticeship in 2 weeks so i will have no time to properly work on the car. and seeing as i need the car so i can go away straight after Christmas it looks like im going to be taking it to a mechanic with a 'new' engine for them to swap into it.
However, i will be keeping the old engine so i can work on that myself and hopefully rebuild it properly when i have more time and knowledge.
you could rebuild it for a turbo