First, your command isn't quite the same as the one suggested.
You're missing the digit "1" on the right hand side between the backslash and "jdbc".
It is important because "\1" refers to the string between parentheses on the left hand side.
The end of the replacement string doesn't seem correct - shouldn't it be "</PROPERTY>" instead of "</PROPERT" ?
Second, I couldn't know that the replacement part would contain "@". I used that character as the delimiter, so the character inside the replacement string must be escaped using a backslash.
Here is a corrected version:
sed -i.bak 's@\(<PROPERTY NAME="DBURL">\).*$@\1jdbc:oracle:thin:\@slobadb:1521:db11g</PROPERTY>@' ran.xml
If so, here is a one-liner:
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The above will create a backup file "ran.xml.bak" to then change "ran.xml" in place.