Jim Weir’s time in charge of Forfar started with a Hampden draw which left visiting keeper Marc McCallum again wishing football games lasted 85 minutes.
The shot-stopper put in an excellent performance, with terrific stops from Dominic Docherty early in each half.
A move off bottom spot looked on when Mark Millar blasted home a penalty 20 minutes into the second half after Dylan Easton was tripped.
But McCallum was beaten in the last minute when a long pass by the home side was flicked on and Luke Donnelly reacted quickest to loft the ball into the net.
In injury time both teams had chances, with McCallum denying Gregor Fotheringham and Millar shooting wide after a break.
McCallum said: “It was one of those games where almost everything went right for me, but overall it is the last-minute thing again. I am not sure if their player was offside, and I had a rant and a rave about it, as I was so disappointed that we lost the lead late on for a second game running.
“It also happened against Alloa, and if games lasted 85 minutes we would be close to the top of the league.”
McCallum is confident things will turn for the better under Weir, adding: “I do not think I have had a clean sheet this season. It has just been that kind of run. We have been so close and then lose goals late on.
“Alloa lost so we have gained a point on them, but it is disappointing to be talking about clawing points back at this stage of the season. I suppose drawing with Stranraer and Queen’s Park is progress.
“The manager tried a new system but had to change things as Hampden is such a big pitch and they were using the wings well.
“We improved a lot in the second half, and the only way is up. It will take time, and the target has to be to get off the bottom of the league as soon as possible.”
Spiders boss Gus Macpherson said: “Their keeper was man-of-the-match.
“We feel it was points dropped.”