SQL & PL/SQL

I'm trying to work out a mechanism to move the data contained in aud$ to another table (which I'll call older_audit_data) and then delete the data from the aud$ table. My eventual goal will be to maintain 7 days worth of data in aud$ and 7 (older) days worth of data in older_audit_data. Each week I want to run a procedure to truncate older_audit_data and to move aud$ into that tablespace and then remove the copied data. I don't want to impact availability while I move data and can't afford to accidently delete something not archived.

I've created a package, relocate_audit_data which uses a cursor to iterate through aud$ and insert values into older_audit_data and delete the entry from aud$.
It looks like:

cursor time_cursor is select ntimestamp# from sys.aud$ for update;

procedure myProc as
commit_cnt number;
BEGIN
EXECUTE IMMEDIATE 'truncate table older_audit_data';
commit_cnt := 0;
FOR times in time_cursor LOOP
-- procedure call to determine if a group of 5,000 transactions has occurred. If so, commit then continue.
insert into older_audit_data VALUES (
times."SESSIONID",
times."ENTRYID",
...
-- all the columns from aud$ are listed in the format <cursor identifier>."<column name>"
...
times."SQLTEXT");
delete from sys.aud$ where current of time_cursor;
commit_cnt := commit_cnt+1;
END LOOP;
END myProc;

I get two errors when I try to compile the package body. The first is PLS-00302 complaining that SQLTEXT must be declared. The second error is an ORA-00984 column not allowed here. Both errors are reported on the last line of the statement doing an insert off the cursor. I can't figure out where the flaw in my logic is. I'm using 10gR2 Enterprise Edition.