the good mr James Christopher Murty, a homeboy ozzie and current citizen of sydney referred me to wikkipedia for proof on this and added,
"I think it's easier to pronounce that way when blind
drunk and suggestions are being taken for the juke box. Similarly
one of Australia's most popular beers "Victoria Bitter" (a weak,
sweet, foamy, goat piss like substance from Melbourne) usually
pronounced "Vee Bee" can be requested from the bar using 'Vuhbuh'.