I use PS CS6 and am not sure what PSE 11 has in it. I think it has a type on path tool, but I don't know if it has text in a shape capability. But, here is a brute force way it can be done just using the regular type tool.
On a separate layer, create ruler guides so that you can create the shape and size of oval that you want with the elliptical marquee tool. Hold down the option/alt key so it draws from the center. Stroke the oval so you can see it. On a new layer above it, start your text at the top center. Use centered text. Type in the text to fill a line to the oval, hit return to go to next line, type to fill that line, hit return,… Fill oval with your text. It will depend on what font you use, what size, etc. You may also have to adjust the line leading also. On some lines you may want to adjust the tracking for that line to make it a little longer or shorter.
You can turn off the visibility of the oval so it doesn't show. That's why you put it on its own layer.
Here is an example.
Earl
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