Yeah, just get a couple packets of champagne yeast (it's pretty cheap) and chuck it in. You can proof it in some warm water if you like. Let it do its thing--it's going to take awhile. Then, when it's finally done, bottle it and let it sit for a l-o-n-g time.
I don't think there is any need to dump it; the yeast is cheap, and will probably get it down to something a little less like motor oil. At this point, it's just a waiting game. You don't have much to lose now.