Log Utilities

Hi,

Can someone point me to a utility program which provides the following functionalities:

1. Given a path to a certain directory of log files, the utility watches any created log file in the directory, and alerts me if a pre-configured line is appended to the log (e.g., alerts on each new line which contains the word InvalidOperationException). I want to be able to configure a list of lines on which I should get alerts in real time (the same moment when the log file is appended with the problematic line).

2. Display the lines of a log file in a grid, with the ability to filter lines (rows) which fits a certain wildcard.

Thanks