I, too, have been looking for it for my father and my tracking has lead me to discover that an American company now owns the rights to Buddies and it is up to them if they re-release it or not. Try contacting the Australian Film Archives and see what details they can give you. The other way is to track down the director, producer and the company that originally released it, JD Productions. The Australian Archives is a good source as well. I am writing to the production company and hopefully get some answers. When I get the answers I will get back and let you know.
Phoenix
Phoenix