Create user, causes System.Security.SecurityExceptionDim newUser As MembershipUser = Membership.CreateUser(Username, password.Text, email.Text, SecretQ, SecretA, True, createStatus)

I have a .net 4 web form application. Windows 2012, IIS8. When running the following line;
Dim newUser As MembershipUser = Membership.CreateUser(Username, password.Text, email.Text, SecretQ, SecretA, True, createStatus) I get the following error;
Exception Details: System.Security.SecurityException: The source was not found, but some or all event logs could not be searched.  To create the source, you need permission to read all event logs to make sure that the new source name is unique.  Inaccessible logs: Security.
[SecurityException: The source was not found, but some or all event logs could not be searched. To create the source, you need permission to read all event logs to make sure that the new source name is unique. Inaccessible logs: Security.] System.Diagnostics.EventLog.FindSourceRegistration(String source, String machineName, Boolean readOnly, Boolean wantToCreate) +657 ...