SQL & PL/SQL

I have sisrious question.

What is wrong with this code?

set serveroutput on;
   CREATE or replace DIRECTORY USER_DIR AS '/home/oracle';
   GRANT READ ON DIRECTORY USER_DIR TO PUBLIC;

   DECLARE
  V1 VARCHAR2(200); --32767
  F1 UTL_FILE.FILE_TYPE;
   BEGIN
  F1 := UTL_FILE.FOPEN('USER_DIR','temp.txt','R');
  Loop
   BEGIN
  UTL_FILE.GET_LINE(F1,V1);
  dbms_output.put_line(V1);
  EXCEPTION WHEN No_Data_Found THEN EXIT; END;
   end loop;

   IF UTL_FILE.IS_OPEN(F1) THEN
  dbms_output.put_line('File is Open');
   end if;

  UTL_FILE.FCLOSE(F1);
   END;
   /
   set serveroutput off;