Error connecting to OWBrepository "You dont have any repository to work on"

I am getting the message saying that "You dont have any repository to work on.OWB client will Exit now ",when i am trying to connect Repository using OWB 11.1.07 client.
Repository is available on my colleagues machine where also the database is running.
All login credentials are good, but it keeps giving me this error message.
Has anyone had this kind of error when connecting to an OWB repository with the 11.1.07 client?
Thanks for your help

Error was given because we tried connecting using OWB client 11.1.06 (without patch-set) on a 11.1.07 repository

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