The game keeps crashing after playing for about 5 minutes.
I cannot submit an error log since the windows error also freezes / game logs show nothing special.
But I have to close the process everytime and it shows memory useage of about 95%(xsyon uses about 1.5 gigs of memory).

Can I assume my pc doesnt have enough memory?

I am using windows 7, and I have 2GB DIMM DDR2 800 MHz memory. I have purchased another 2GB and will let you hear if it solved the problem.

The last lines of the last 3 logs:
Fri Dec 03 09:38:52 2010 : Warning: Missing Animation103Default Animation
Fri Dec 03 09:43:00 2010 : Warning: Array Index Out Of Bounds On Get Element. Array: 159

Fri Dec 03 10:39:29 2010 : Warning: Missing LOD 0 For Mesh: .mesh
Fri Dec 03 10:39:29 2010 : Warning: Missing LOD 0 For Mesh: no_art_0.mesh

Fri Dec 03 11:16:48 2010 : Success: Pixel Shader 2.0 Loaded
Fri Dec 03 11:22:59 2010 : Crossing sector boundary begin...Sector: 7