It's bit long process but most of the developer are running OpenERP in this way!

Step 1: install reuired packages

sudo apt-get install python-dateutil python-docutils python-feedparser python-gdata python-jinja2 python-ldap python-libxslt1 python-lxml python-mako python-mock python-openid python-psycopg2 python-psutil python-pybabel python-pychart python-pydot python-pyparsing python-reportlab python-simplejson python-tz python-unittest2 python-vatnumber python-vobject python-webdav python-werkzeug python-xlwt python-yaml python-zsi python-psutil postgresql-9.1 pgadmin3 bzr

Step 2: configure postgres

sudo su postgres

Create system user in postgres

createuser -d -S -R "<your system user>"

Enter to psql prompt

psql

change the password of created user

alter user <your system user> with password <your password>;

Step 3: configure bzr

Step 4: get the source from launchpad.

 mkdir openerp7
 cd openerp7
 bzr branch lp:openobject-server/7.0
 mv /home/user/openerp7/7.0 /home/user/openerp7/server
 bzr branch lp:openerp-web/7.0
 mv /home/user/openerp7/7.0 /home/user/openerp7/web
 bzr branch lp:openobject-addons/7.0
 mv /home/user/openerp7/7.0 /home/user/openerp7/addons

Step 5: Start the server manually.

Go to the server directory and run.

./openerp-server --addons ../addons,../web/addons

It will start the server on 0.0.0.0:8069, check it in the browser.

Check my post on How to install Odoo 10 in ubuntu 16.04 LTS.

Hi Slava,

Refer to this : http://www.theopensourcerer.com/2012/12/how-to-install-openerp-7-0-on-ubuntu-12-04-lts/

and retry installing. Waiting for your feedback :)

Cheers

ASP

Did you change your pg_hba config file for postgres? Is your Postgres running?