Panic occurred switching to text console in netbook

Yes, I know that there is exactly the same question is asked here, but in my case I would like to provide more information in order to try to solve the problem. Because that question had been asked more than a week ago and still doesn't have an answer.

So, I am using a netbook Asus EEE PC 1001 HA, 10" with Ubuntu 11.10 Desktop. The screenshot is given below. This error message has been started to occur occasionally 2 days ago. After showing this error message Ubuntu just stops to respond to any command and I need to shut down the netbook using power button. So, what could be the problem here? Do you think it is a hardware problem or a software problem?

If you need any further information I can provide it without any problem.

Thank you.

Which log-file is supposed to host the messages that appear on Bakhtiyor's screen? I haven't been able to trace it yet.

Trying to look for a file that contains the last output before the freeze ('reserve_backup...')

cd /var/log
sudo find . -exec grep -li 'reserve_backup' {} \;

the only result was /var/log/kern.log.1, but it's entries didn't point to one of the recent freezes. There were 2 occurrences of the search-string 'reserve_backup', but both were timestamped hours before the last freeze.

UPDATE: Today I found this filed bug: https://bugs.launchpad.net/ubuntu/+source/linux/+bug/875571 which seems to be the same as you described. According to the messages there the only thing that might possibly help, is to use the upstream kernel 3.1. Unless you know how to compile a kernel, I suggest to wait until there is a better solution.