As you seem not interested in useful volume group and volume names (currently your vg is named VolGroup00 and your lv LogVol01), I'll leave these untouched.
So the only need is to change the mount point, so you edit /etc/fstab and change the respective line from pracle to oracle. That is for the next reboot.
Then do
mkdir /u001/app/oracle # necessary before changes can take effect!
umount /u001/app/pracle # unmount the old one
mount /u001/app/oracle # mount it on the new place
rmdir /u001/app/pracle # and dispose of the garbage.
for cleaning up and for having the changes immediately.
On the long run, it might be useful to at least have useful volume names: that's what lvrename is for. You would do that with
lvrename VolGroup00/LogVol01 oracle
after which an edit of the fstab is necessary again, as the device location changes from /dev/VolGroup00/LogVol01 to /dev/VolGroup00/oracle resp. from /dev/mapper/VolGroup00-LogVol01 to /dev/mapper/VolGroup00-oracle.