ps_eventlog_bookmark.ps1

$LogName = 'Application'
$pathType = [System.Diagnostics.Eventing.Reader.PathType]::LogName;
$xpath = @"
<QueryList>
  <Query Id="0" Path="Application">
    <Select Path="Application">*</Select>
  </Query>
</QueryList>
"@

# do a check for a existing file, its ok to not have a file at start
$lastRecord = Get-Content -Path $bookmarkFile;

# this will return nothing if we don't have a lastrecord, or just pass null into eventLogReader
$eventBookmark = (Get-WinEvent -LogName $LogName -FilterXPath "*[System[(EventRecordID=$($lastRecord))]]" -ErrorAction 0 -ErrorVariable bookError).Bookmark;
# this is your query part
$eventLogQuery  = New-Object System.Diagnostics.Eventing.Reader.EventLogQuery $LogName, $pathType, $XPath;
# if the bookmark is null, it ignores it, if it has a value it starts at that id
$eventLogReader = New-Object System.Diagnostics.Eventing.Reader.EventLogReader $eventLogQuery, $eventBookmark;
# read how you want
# do a loop or however you access events
$eventRecord       = $eventLogReader.ReadEvent();
#get last read record id
[string]$r = $eventRecord.RecordId
# write to file, repeat step 1
Set-Content -Path $bookmarkFile -Value $r;