memory allocation problem

I'm working with an application that uses the allegro CL runtime:

International Allegro CL Enterprise Edition
7.0 [Windows] (Feb 8, 2006 17:24)

At one point, I get the following message:

Memory allocation problem: An allocation request for 262160 bytes
caused a need for 56623104 more bytes of heap. The operating system
will not make the space available because the address space reserved
for the heap could not be increased.

Is this a problem with my computer (i.e. some setting regarding
virtual memory needs to be changed)? If so, what do I need to change?

Or is it a problem with the way the application was built, or
something else?

Mike Daniels