have you installed PHCO_34421 patch, this patch has fix for error
( SR:8606430519 CR:JAGaf89978 )
If lvcreate(1M) is invoked where the size of the requested
logical volume is smaller than the physical extent size
then lvcreate(1M) will fail with the following error
message:
"lvcreate: Specified LogicalVolumeSize is too large for
the PhysicalExtentSize of the Volume Group. Resulting
number of extents is out of the range 1 to 65535 (0)."
It's kind of fun to do the impossible