Hello
Oracle Linux is not a supported distro, so this can be expected.
The data have been cloned and part of the reconfiguration has been successful. Besides the error is "cpio: write error: No space left on device", so perhaps even the initrd step would have succeeded.
You can try to boot in the destination VM using a live CD (preferably the installation CD for that Linux version) and run mkinitrd from there.
HTH
Plamen