likelyhood of this working - OS server upgrade

We have an old 11g Weblogic server running on an old RHEL5 system (old and old seems to match). In order to get off of the old server I was going to try and replicate all the application data to a new OL7 server and see if anything still works. I'm highly doubtful based on libraries and versions of packages etc. but maybe someone here can comment on this with more knowledge to say 'why it definitely won't work'.

If not I will do through the effort just to validate it is not an option. The plan has been to transition off of this environment but delays have meant here we are years later and still no end in sight.