Well, this popped up on another forum where the uploader did not know either which language it is.
To me it sounds like Portuguese. But maybe it's a dialect (Madeira??), since it doesn't sound like "typical" Portuguese spoken in Brazil or Portugal (though some phonemes do sound similar)?
http://www53.zippyshare.com/v/36707825/file.html
Would be interesting if anyone could identify this, not only because of the lyrics but also because it's quite a nice song. Thanks in advance.