Seems the problem is with your reports path specification.
Try copying a report binary (.rdf) to <orahome>/reports/samples/demo folder and run. If this succeeds, then you need to re-check your path specification.
Further, after adding a REPORTS_PATH, you need to bounce the reports server.
Hope this helps
The issue is with the path not defined in the conf file
1. Open your application home, i.e /u02/OraHome_2/reports/conf
2. Open your report conf file that has your instance name for modification, i.e. vi rep_ebfinreports_oracleas2.conf
3. There is an entry that you will to add defined in the file but you will find it hashed as
<!--property name="sourceDir" value="your reports source directory"/-->
4. insert a new line and make an entry for the reports source path as shown below in my example as I have defined mine
<property name="sourceDir" value="/u02/reports/rep"/>
value /u02/reports/rep is my report path in this case
5. Save the changes and retry running the report, hope it works like mine did