VS 2008 Make A Little Application That Will Read An Fps Server Chat Log?

im trying to make a little application that will read an fps server chat log.the chat logs are plain text files that come in the format :

Billy says: yada yada yada
Bob says: mooo

on certain key phrases (which will be user defined) it will reply (also user defined) now my problems. (there are many). most of which stem from not actually knowing any syntax for this language.firstly im suffering something of a huge brain fart with trying to read only the last line. i have it currently reading though the whole file and counting line numbers but then i just hit a wall . what do i do with the line number? i cant find a simple way to stop and come then have it check again after a couple of seconds for a new line? allegedly filestream can seek the end of the file however all my attempts to do anything with filestream have met with absolutle failure.

this is what i currently have for this, and it works to some degree

FileReader = New IO.StreamReader(OpenFileDialog1.FileName)
Do While FileReader.Peek <> -1
txtln = FileReader.ReadLine()

[code]....

i have the remnants of both the options ive considered in there, and its almost doing what i need it to . i just have no idea what to put into the last section to make it wait for another line to be added to the text file, or use the linenumber to make it check back from there for more lines. i cant seem to find a wait/sleep/pause so i just dont know.

my other problem is one of file access. i am aware of some properties of filestream that allow for a shared read/write access for other programs . however as i stated before . i have had no success even getting this simple peice of code to work with filestream.