Could an engine be safely flown past TBO? Sure.
But with one compression in the 60's, the engine is toast.
(An overhauled engine would cost you about $19,000)

Running the numbers for this aircraft through AOPA's Vref calculator, this aircraft is worth only $2,866.67 assuming the aircraft "needs paint"(new paint would add $4000 to the value).

With a fresh overhauled engine the airplane would be worth $22,666.67