URGENT! Please help! VISA denied!

My application for a post study work visa was declined on 2 November.

This was because the evidence supplied was not original and the bank statements were not within one month of the date of the application. However, I have had sufficient funds for the right period and can prove this.

Obviously, not supplying the right form of evidence was a regrettable oversight. But, I want to know what to do next.

It seems I have three options:

(1) Appeal
(2) Administrative Review
(3) Submit a new application

(3) is not a viable option as I can't afford to pay another £500 and my original VISA has already expired in any event.

Please can someone advise me whether (1) or (2) is the best way forward?

Further, what kinds of arguments should I submit in my covering letter given that I will be supplying new documentation?

My instinct is that "less is more" - is it best just to say that I had the requisite funds for the 3 month period, as evidenced by the enclosed originals?