As you can see the memory is pushing it, but as you said it should work.
Management Server, Client, HTTP Server, Intelligent Agent or Management Server and Client
Requirements are listed below for a machine running the Management Server Release 9.2, Enterprise Manager Client Release 9.2, Oracle HTTP Server Release,
and Oracle Intelligent Agent 9. 2 or for an Oracle Management Server machine which also runs the Enterprise Manager Client:
Enterprise Manager Web Site Requirements are listed below for a machine running only the Enterprise Manager
Web Site, which also includes the preconfigured Oracle HTTP Server.
Required 866MHZ Pentium Processor
256 MB RAM
Recommended 512 MB RAM
Note: Information listed above does not account for the database
Repository. Refer to your database documentation for appropriate system and hardware requirements specific to an Oracle database.