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Was the wallet created by the same user that installed OAS? This was a requirement back in the 9i days and may be still...
User i had used to access OWM, to save the wallet, to get the cwallet is the same user who has access to all the folders in the installation.
After closing the wallet manager i immediately try opening the generated cwallet file with orapki display command with the same user id, yet it requests for password.