Post: "Error: Unexpected Oracle error: ORA-01850: hour must be between 0 and 23." (4304858)

Post stops and you see the following messages in the event_log:
[286] 08/12/08 08:39 Notice: ORA-01850: hour must be between 0 and 23. [sp_opst_mt(osp)/15855]
[286] 08/12/08 08:39 Error: Unexpected Oracle error: ORA-01850: hour must be between 0 and 23. (object name: "OWNER"."TABLE") [sp_opst_mt (for o.SID-o.SID queue queuename)/15855]
08/12/08 08:39 Process exited sp_opst_mt   (for o.SID-o.SID queue queuename) [pid = 15855] - exit(1)

Turn on the post debug and you will see messages similar to the following in the opo log: (grep for 1850)
008-08-12 13:50:44.095584 4221 5 error(table:"OWNER"."TABLE")   oracle rc=1850 ../src/opst_mt/sql.c:8607
08-08-12 13:50:44.095714 4221 5 BreakLines: update     "OWNER"."TABLE" t set "COL1_TS"='1203-001175717',
08-08-12 13:50:44.095714 4221 5 "COL2_TS"='0803-2005185717',"COL3_TIMESTAMP"=
08-08-12 13:50:44.095714 4221 5 '08122008113923' where rownum = 1 and "REF_NO"='0065690'||
08-08-12 13:50:44.095714 4221 5 '625' and "COL1_TS"='08032005175717' and "COL2_TS"=
08-08-12 13:50:44.095714 4221 5 '08032005175717' and "COL3_TIMESTAMP"='08112008103656';

The COL1_TS value is wrong '1203-001175717'. It only has three digits as year (001) instead four, which then lead Oracle to post '75' as hour, which in turn raises the Oracle error.