What OS are you using?
your localhost is just your base directory, and doesn't mean Oracle is overide you Web Server. Try creating a virtual directory and refering to it.
You can use your IIS manager to do this or or goto:
C:\Inetpub\wwwroot (or where you have set your webserver)
Create a folder begASP, right click folder, Properties, Web Sharing, Share This Folder and Name your virtual directory.
Place html or asp file as index or default and call the page
and see if it runs