Hey Kris
Yep, you have the maths correct and the idea is spot on.
You need to point your scope to 168.6 degrees (which is about 12 degrees EAST of south on a compass).
This SHOULD get you close enough to the SCP, as long as your altitude is set correctly based on the angle the LATITUDE scale is set. Be aware, these are notoriously wrong on Skywatcher GEMs (mine was more than 10 degrees out) so try and set this with a protractor or digital angle gauge to the LATITUDE of your location.
I know you have some bad LP in the direction of the SCP, but try my tutorial
here, to narrow down the asterism that is Sigma Octans etc. These should hopefully be visible in the 9 x 50 finder.
Cheers
Chris