Great Australian rock formations droop? Look back! (5)

I believe the answer is:

olgas

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'great australian rock formations' is the definition.
I know nothing about this answer so I cannot tell whether this works.

'droop? look back' is the wordplay.
'droop?' becomes 'sag' (synonyms).
'look' becomes 'lo' ('lo' is an archaic exclamation meaning 'look!').
'back' shows that the letters should be reversed in order.
'sag'+'lo'='saglo'
'saglo' in reverse letter order is 'OLGAS'.

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I've seen this clue in the Sydney Morning Herald.

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