I don't think upgrades work more than one version and even then the odds of failure are rather high. You could clone the VM for a test run. Otherwise note the stuff you want to replicate and do a clean install. Some features will have changed quite a bit since 11.4. I'm running 10.4 server ppc and it's still getting kernel, apache, php & security updates almost monthly. Ubuntu is pretty good at back ports. Maybe you don't really need to upgrade?
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