Hibernate configuration is not able to use Hibernate Configuration File referenced in persistence.xml

1. Create JPA Project
2. Add JPA/Hibernate(4.0) libs
3. Open persitence.xml
4. On Hibernate page use Configuration file, create it
5. Try to use Hibernate Console
ERROR: org.hibernate.console.HibernateConsoleRuntimeException: Could not create JPA based Configuration
Could not create JPA based Configuration
<No message>
java.lang.reflect.InvocationTargetException
java.lang.reflect.InvocationTargetException: <no message>
java.lang.reflect.InvocationTargetException
javax.persistence.PersistenceException: [PersistenceUnit: jpahibernate40] Unable to configure EntityManagerFactory
[PersistenceUnit: jpahibernate40] Unable to configure EntityManagerFactory
org.hibernate.HibernateException: /jpahibernate40/src/hibernate.cfg.xml not found
/jpahibernate40/src/hibernate.cfg.xml not found

In persistence.xml is:
<property name="hibernate.ejb.cfgfile" value="/jpahibernate40/src/hibernate.cfg.xml"/>