Need help booting a Red Hat Linux 6.1 virtual image - Kernel panic - Unable to mount root fs

I'm trying to virtualize a Red Hat Linux 6.1 image. I restored a clonezilla backup on a .vmdk and I'm trying to get the image to boot successfully in the latest release of VirtualBox 5. Unsurprisingly, I'm getting a Kernel panic. Bootloader is lilo. Disk is on a SCSI (BusLogic) controller in VBox. 500MB of ram. Chipset PIIX3. Audio,Network,Serial, USB all disabled. I would like to preface this post by saying that I am not the one who designed/partitioned this image and that my knowledge of linux is average at best. Please see the screenshots. Image 1 Image 2 VFS: Mounted root (ext2 filesystem). Loading aic7xxx module scsi : 0 hosts. /lib/aic7xxx.o: init_module: Device or resource busy autodetecting RAID arrays autorun... ... autorun DONE. kmod: failed to exec /sbin/modprobe -s -k block-major-8, errno = 2 VFS: Cannot open root device 08:03 Kernel panic: VFS: Unable to mount root fs on 08:03 fstab: /dev/sda3 / ext2 defaults 1 1 /dev/sda2 /boot ext2 defaults 1 2 /dev/sda4 /abc ext2 defaults 1 2 /dev/sda1 swap swap defaults 0 0 none /proc proc defaults 0 0 none /dev/pts devpts gid=5,mode=620 0 0 lilo.conf: boot=/dev/sda map=/boot/map install=/boot/boot.b prompt tiemout=50 default=linux #Default kernel ( orig ) image=/boot/vmlinuz-2.2-12-20 append="mem=376M" label=linux initrd=/boot/initrd-2.2.12-20.img read-only root=/dev/sda3 When i try to boot with SystemRecovery live cd, it fails at "Checking root filesystem" and says my root partition (/dev/sda3) is mounted. Cannot continue, aborting. If i select Control-D for normal startup, it performs fsck on the other 2 partitions(/dev/sda2 and /dev/sda4) and then it just hangs. I've used a livecd and I've succesfully mounted the partitions and even did a fsck on them to see if that would help. No luck. All clean btw. Not sure if the AIC7xxx SCSI driver is causing problems... obviously the VM doesn't have an Adaptec SCSI controller... Any help would be greatly appreciated.