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.
Hold shift, right click the GP icon, click run as Administrator. Then rerun the batch. You should be able to see the real issue then.
Alternately, take the steps from this article to give eventLog permissions to the logged on user's group.