Example: /u01/app/oracle/product/11.2.0/client32/inventory/

If running the setup is ran as root or permission is correctly set, check the oracle base property in the oraclehomeproperties.xml.

[root@localhost ContentsXML]# pwd
/u01/app/oracle/product/11.2.0/client32/inventory/ContentsXML
[root@localhost ContentsXML]# cat oraclehomeproperties.xml
<?xml version="1.0" standalone="yes" ?>
<!-- Copyright (c) 1999, 2009, Oracle. All rights reserved. -->
<!-- Do not modify the contents of this file by hand. -->
<ORACLEHOME_INFO>
   <GUID>1704039180#.#361339397</GUID>
   <HOME/>
   <ARU_PLATFORM_INFO>
      <ARU_ID>46</ARU_ID>
      <ARU_ID_DESCRIPTION>Linux x86</ARU_ID_DESCRIPTION>
   </ARU_PLATFORM_INFO>
   <PROPERTY_LIST>
      <PROPERTY NAME="ARCHITECTURE" VAL="32"/>
      <PROPERTY NAME="ORACLE_BASE" VAL="/u01/app/oracle"/>
   </PROPERTY_LIST>
</ORACLEHOME_INFO>
if it is not there:
1) open a command prompt
2) Set ORACLE_HOME at the client location
set ORACLE_HOME=/u01/app/oracle/product/11.2.0/client32
3) Set oracle base with orabase -s run in the client directory
/u01/app/oracle/product/11.2.0/client32/bin/orabase -s /u01/app/oracle
4) Verify that oraclehomeproperties.xml contains
<PROPERTY NAME="ORACLE_BASE" VAL="/u01/app/oracle"/>

In the case "inventory/ContentsXML" does not exist or the orabase -s returns error, try reinstalling the Oracle client.