Zoran,
It sounds like the Word program itself has been moved to a different location. Check to see if you can actually start Word on that computer from the Start menu.
>When I issue command
>
>oWord=CreateObject("Word.Application")
>
>following error occurs
>
>OLE error code 0x80070003: The system cannotfind the path specified.
>
>What could it be? That command works just fine before.