From memory, and the tape wasn't that clear as he was fairly low and the transmissions were fairly short, he seemed to be confused. I've heard the stories that it was a stunt and he flew off to a new life etc, or that he got unsettled and disoriented by reflections from the Cape Otway lighthouse, so it's hard to say. I had conversations with the FSO on duty that night who was in comms with him and I think he was pretty certain he went into the water.
Maybe he's in a hangar in Roswell?