Problem with make bukkit server.

I am trying to help my friend make a minecraft server with bukkit and a few plugins. He has a VPS with CentOS 5 32-bit that he is trying to run it from. But whenever me or I would try and start the server up, this error would come up

Code:

2011-02-21 05:21:32 [INFO] Starting minecraft server version Beta 1.2_01
2011-02-21 05:21:32 [WARNING] **** NOT ENOUGH RAM!
2011-02-21 05:21:32 [WARNING] To start the server with more ram, launch it as "java -Xmx1024M -Xms1024M -jar minecraft_server.jar"
2011-02-21 05:21:32 [INFO] Loading properties
2011-02-21 05:21:32 [WARNING] server.properties does not exist
2011-02-21 05:21:32 [INFO] Generating new properties file
2011-02-21 05:21:32 [INFO] Starting Minecraft server on *:25565
2011-02-21 05:21:32 [INFO] This server is running Craftbukkit version git-Bukkit-0.0.0-432-g86236f5-b400jnks (MC: 1.2_01)
2011-02-21 05:21:32 [WARNING] Failed to load ban list: java.io.FileNotFoundException: banned-players.txt (No such file or directory)
2011-02-21 05:21:32 [WARNING] Failed to load ip ban list: java.io.FileNotFoundException: banned-ips.txt (No such file or directory)
2011-02-21 05:21:32 [WARNING] Failed to load ip ban list: java.io.FileNotFoundException: ops.txt (No such file or directory)
2011-02-21 05:21:32 [INFO] Preparing level "world"
2011-02-21 05:21:32 [INFO] Preparing start region
2011-02-21 05:21:32 [SEVERE] java.lang.NullPointerException
2011-02-21 05:21:32 [SEVERE]     at net.minecraft.server.Chunk.<init>(Chunk.java:47)
2011-02-21 05:21:32 [SEVERE]     at net.minecraft.server.Chunk.<init>(Chunk.java:57)
2011-02-21 05:21:32 [SEVERE]     at net.minecraft.server.EmptyChunk.<init>(SourceFile:20)
2011-02-21 05:21:32 [SEVERE]     at net.minecraft.server.ChunkProviderServer.<init>(ChunkProviderServer.java:32)
2011-02-21 05:21:32 [SEVERE]     at net.minecraft.server.WorldServer.a(WorldServer.java:66)
2011-02-21 05:21:32 [SEVERE]     at net.minecraft.server.World.<init>(World.java:144)
2011-02-21 05:21:32 [SEVERE]     at net.minecraft.server.WorldServer.<init>(WorldServer.java:24)
2011-02-21 05:21:32 [SEVERE]     at net.minecraft.server.MinecraftServer.c(MinecraftServer.java:127)
2011-02-21 05:21:32 [SEVERE]     at net.minecraft.server.MinecraftServer.d(MinecraftServer.java:118)
2011-02-21 05:21:32 [SEVERE]     at net.minecraft.server.MinecraftServer.run(MinecraftServer.java:217)
2011-02-21 05:21:32 [SEVERE]     at net.minecraft.server.ThreadServerApplication.run(SourceFile:512)
2011-02-21 05:21:32 [SEVERE] Unexpected exception
java.lang.NullPointerException
    at net.minecraft.server.Chunk.<init>(Chunk.java:47)
    at net.minecraft.server.Chunk.<init>(Chunk.java:57)
    at net.minecraft.server.EmptyChunk.<init>(SourceFile:20)
    at net.minecraft.server.ChunkProviderServer.<init>(ChunkProviderServer.java:32)
    at net.minecraft.server.WorldServer.a(WorldServer.java:66)
    at net.minecraft.server.World.<init>(World.java:144)
    at net.minecraft.server.WorldServer.<init>(WorldServer.java:24)
    at net.minecraft.server.MinecraftServer.c(MinecraftServer.java:127)
    at net.minecraft.server.MinecraftServer.d(MinecraftServer.java:118)
    at net.minecraft.server.MinecraftServer.run(MinecraftServer.java:217)
    at net.minecraft.server.ThreadServerApplication.run(SourceFile:512)

Any idea why this is happening?

 

The newest version of CraftBukkit gives errors like those, try the latest recommended version, available here.