Issue with Website Event 1310 IIS Issue

Hi All

I need urgent assistance with getting this ASP Website to work.

The website was working fine on the old Web Server (32-bit Windows Server 2003)

I migrated the entire website across to a new Server (64-Bit Windows Server 2008 R2)

Now when I access the website, I get an Application Error. The following are many warnings being logged in the Event Viewer.

Please assist as I need to get this Website up and running.

Event 1310, ASP.NET 2.0.50727.0

Event code: 3008
Event message: A configuration error has occurred.
Event time: 12/04/2013 10:35:06 AM
Event time (UTC): 12/04/2013 12:35:06 AM
Event ID: b82380f005d74ac0b20e8a7c568befeb
Event sequence: 1
Event occurrence: 1
Event detail code: 0
 
Application information:
    Application domain: /LM/W3SVC/11/ROOT-11-130102005060342963
    Trust level: Full
    Application Virtual Path: /
    Application Path: C:\Inetpub\vhosts\xyzwebsite.com\httpdocs\
    Machine name: WebServer
 
Process information:
    Process ID: 4672
    Process name: w3wp.exe
    Account name: WebServer\IWPD_51(xyzweb)
 
Exception information:
    Exception type: HttpException
    Exception message: Invalid access to memory location. (Exception from HRESULT: 0x800703E6)
 
Request information:
    Request URL: http://www.xyzwebsite.com/Default.aspx
    Request path: /Default.aspx
    User host address: <IP>
    User:  
    Is authenticated: False
    Authentication Type:  
    Thread account name: WebServer\IWPD_51(xyzweb)
 
Thread information:
    Thread ID: 10
    Thread account name: WebServer\IWPD_51(xyzweb)
    Is impersonating: False
    Stack trace:    at System.Web.Compilation.BuildManager.ReportTopLevelCompilationException()
   at System.Web.Compilation.BuildManager.EnsureTopLevelFilesCompiled()
   at System.Web.Hosting.HostingEnvironment.Initialize(ApplicationManager appManager, IApplicationHost appHost, IConfigMapPathFactory configMapPathFactory, HostingEnvironmentParameters hostingParameters)