The source was not found, but some or all event logs could not be searched. Inaccessible logs: Security.

This error message appears when running a console program that writes to event log.

The error happens because:
The application is writing to the Event Log using a value for "Source" that has not been registered.

To resolve this you have to:
Run the console program once with administrative rights to create a new event log source. i.e. Run CMD as administrator.

After the "source" has been registered, your console program should work fine.

http://forums.asp.net/t/1271405.aspx/1