After P2V (vmware Converter Standalone), RedHat Linux Server Can not boot. (Kernel panic)

After P2V (vmware Converter Standalone), RedHat Linux Server Can not boot.

error message:

setuproot: moving /dev failed: No such file or directory
mount: could not find filesystem '/dev/root'
setuproot: error mounting /proc: No such file or directory
setuproot: error mount /sys:  No such file or directory
switchroot: mount filed:  No such file or directory
Kernel panic - not syncing: Attempted to kill init!

1.  Boot from RHEL Installation media.
2.  F5    -->  linux rescue  
3. chroot /mnt/sysimage/

recover boot image.

1. backup boot image
    mv /boot/initrd-2.6.18-128.el5xen.img  backup_initrd-2.6.18-128.el5xen.img 
2. build new boot image
    /sibn/mkinitrd /boot/initrd-2.6.18-128.el5xen.img 2.6.18-128.el5xen
3. exit

reboot.