It looks like the machine you're trying to run this on has only 256 MB memory.
Maybe the JVM tries to allocate a large, contiguous block of 64 MB memory. The 192 MB that you have free might be fragmented into smaller pieces, so that there is no contiguous block of 64 MB free to allocate.
Try starting your Java program with a smaller heap size, for example:
java -Xms16m ...