you should be able to use the generic event report from within SCOM to select that event.
Refer the following link for the steps to create custom reports

http://blogs.technet.com/b/jonathana...beginners.aspx
https://technet.microsoft.com/en-us/.../bb381357.aspx

Alternative :

You can go for Lepide Event Log Manager to view or save custom report according to your need

Go and download Enterprise Edition of the software from here

go to custom report tab where you can view and save reports according to your need

Create custom report for application & security log event

I have System Center 2007 Operation Manager installed and we have a need to create a daily custom report for some particular application & security Events of all servers.

Is there a guide out there to the steps I need to follow.

I have the Windows Management packs installed and my servers are agent managed.