JRuby + Bundler + Windows: "bundle exec" issue

errors.txt

C:\Users\semmons99\scratch>jruby -v
jruby 1.7.0.preview1 (ruby-1.9.3-p203) (2012-05-19 00c8c98) (Java HotSpot(TM) 64-Bit Server VM 1.6.0_23) [Windows 7-amd64-java]

C:\Users\semmons99\scratch>jgem list

*** LOCAL GEMS ***

bundler (1.1.4)
jruby-win32ole (0.8.5)
rake (0.9.2.2)

C:\Users\semmons99\scratch>dir
 Volume in drive C is BOOTCAMP
 Volume Serial Number is B87C-02FB

 Directory of C:\Users\semmons99\scratch

07/08/2012  07:52 PM    <DIR>          .
07/08/2012  07:52 PM    <DIR>          ..
07/08/2012  07:40 PM                32 Gemfile
07/08/2012  07:40 PM               102 Gemfile.lock
07/08/2012  07:40 PM                37 Rakefile
               3 File(s)            171 bytes
               2 Dir(s)  47,489,486,848 bytes free

C:\Users\semmons99\scratch>bundle exec rake hello

Unfortunately, a fatal error has occurred. Please see the Bundler 
troubleshooting documentation at http://bit.ly/bundler-issues. Thanks! 
RaiseException.java:101:in `<init>': java.lang.NullPointerException
	from Ruby.java:3551:in `newRaiseException'
	from Ruby.java:3320:in `newErrnoFromLastPOSIXErrno'
	from RubyKernel.java:1657:in `execCommon'
	from RubyKernel.java:1612:in `_exec_internal'
	from RubyKernel$INVOKER$s$1$0$_exec_internal.gen:-1:in `call'
	from CachingCallSite.java:282:in `cacheAndCall'
	from CachingCallSite.java:71:in `call'
	from FCallSpecialArgNode.java:45:in `interpret'
	from NewlineNode.java:104:in `interpret'
	from ASTInterpreter.java:75:in `INTERPRET_METHOD'
	from InterpretedMethod.java:233:in `call'
	from DefaultMethod.java:215:in `call'
	from WrapperMethod.java:62:in `call'
	from CachingCallSite.java:332:in `cacheAndCall'
	from CachingCallSite.java:203:in `call'
	from CallSpecialArgNode.java:69:in `interpret'
	from NewlineNode.java:104:in `interpret'
	from RescueNode.java:226:in `executeBody'
	from RescueNode.java:123:in `interpretWithJavaExceptions'
	from RescueNode.java:113:in `interpret'
	from BeginNode.java:83:in `interpret'
	from NewlineNode.java:104:in `interpret'
	from BlockNode.java:71:in `interpret'
	from ASTInterpreter.java:75:in `INTERPRET_METHOD'
	from InterpretedMethod.java:255:in `call'
	from DefaultMethod.java:223:in `call'
	from RubyClass.java:642:in `finvoke'
	from RubyBasicObject.java:1798:in `send19'
	from RubyKernel.java:1998:in `send19'
	from RubyKernel$INVOKER$s$send19.gen:-1:in `call'
	from JavaMethod.java:307:in `call'
	from CachingCallSite.java:352:in `cacheAndCall'
	from CachingCallSite.java:237:in `call'
	from CallSpecialArgNode.java:71:in `interpret'
	from IfNode.java:116:in `interpret'
	from NewlineNode.java:104:in `interpret'
	from RescueNode.java:226:in `executeBody'
	from RescueNode.java:123:in `interpretWithJavaExceptions'
	from RescueNode.java:113:in `interpret'
	from ASTInterpreter.java:75:in `INTERPRET_METHOD'
	from InterpretedMethod.java:233:in `call'
	from DefaultMethod.java:215:in `call'
	from CachingCallSite.java:332:in `cacheAndCall'
	from CachingCallSite.java:203:in `call'
	from CallSpecialArgNode.java:69:in `interpret'
	from NewlineNode.java:104:in `interpret'
	from BlockNode.java:71:in `interpret'
	from IfNode.java:118:in `interpret'
	from NewlineNode.java:104:in `interpret'
	from BlockNode.java:71:in `interpret'
	from ASTInterpreter.java:75:in `INTERPRET_METHOD'
	from InterpretedMethod.java:233:in `call'
	from DefaultMethod.java:215:in `call'
	from CachingCallSite.java:332:in `cacheAndCall'
	from CachingCallSite.java:203:in `call'
	from CallTwoArgNode.java:59:in `interpret'
	from NewlineNode.java:104:in `interpret'
	from BlockNode.java:71:in `interpret'
	from ASTInterpreter.java:75:in `INTERPRET_METHOD'
	from InterpretedMethod.java:120:in `call'
	from InterpretedMethod.java:134:in `call'
	from DefaultMethod.java:174:in `call'
	from CachingCallSite.java:282:in `cacheAndCall'
	from CachingCallSite.java:71:in `call'
	from FCallManyArgsNode.java:60:in `interpret'
	from NewlineNode.java:104:in `interpret'
	from BlockNode.java:71:in `interpret'
	from RescueNode.java:226:in `executeBody'
	from RescueNode.java:123:in `interpretWithJavaExceptions'
	from RescueNode.java:113:in `interpret'
	from ASTInterpreter.java:75:in `INTERPRET_METHOD'
	from InterpretedMethod.java:147:in `call'
	from DefaultMethod.java:183:in `call'
	from CachingCallSite.java:292:in `cacheAndCall'
	from CachingCallSite.java:135:in `call'
	from CallNoArgNode.java:63:in `interpret'
	from NewlineNode.java:104:in `interpret'
	from BlockNode.java:71:in `interpret'
	from RescueNode.java:226:in `executeBody'
	from RescueNode.java:123:in `interpretWithJavaExceptions'
	from RescueNode.java:113:in `interpret'
	from BeginNode.java:83:in `interpret'
	from NewlineNode.java:104:in `interpret'
	from BlockNode.java:71:in `interpret'
	from RootNode.java:129:in `interpret'
	from ASTInterpreter.java:120:in `INTERPRET_ROOT'
	from Ruby.java:805:in `runInterpreter'
	from Ruby.java:2603:in `loadFile'
	from ExternalScript.java:66:in `load'
	from LoadService.java:304:in `load'
	from RubyKernel.java:1025:in `loadCommon'
	from RubyKernel.java:1017:in `load19'
	from RubyKernel$INVOKER$s$0$1$load19.gen:-1:in `call'
	from DynamicMethod.java:216:in `call'
	from DynamicMethod.java:212:in `call'
	from CachingCallSite.java:312:in `cacheAndCall'
	from CachingCallSite.java:169:in `call'
	from c:\jruby-1.7.0.preview1\bin\bundle:23:in `__file__'
	from c:\jruby-1.7.0.preview1\bin\bundle:-1:in `load'
	from Ruby.java:778:in `runScript'
	from Ruby.java:771:in `runScript'
	from Ruby.java:648:in `runNormally'
	from Ruby.java:497:in `runFromMain'
	from Main.java:375:in `doRunFromMain'
	from Main.java:264:in `internalRun'
	from Main.java:230:in `run'
	from Main.java:214:in `run'
	from Main.java:194:in `main'

Gemfile

source :rubygems

gem "rake"

Rakefile

task :hello do
  puts "hello"
end