Peterhead manager Jim McInally was disappointed his team could not hold on to their lead after Alloa hit back to deny the Blue Toon a rare home win.
Fiacre Kelleher put the hosts in front midway through the second half but substitute Jordan Kirkpatrick rescued a point for Jim Goodwin’s side in the 76th minute.
McInally said: “We should have taken all three points.
“In the first half especially we played really well and I said to the players before the game I would be happy if we played really poorly and won.
“I would have been happy for us to sit in and catch Alloa on the break but we dominated the half, although we nearly got caught with a couple of breakaways.
“In the second half, we took the lead after getting a break but then Jim starting to throw players forward and we were camped in a bit, which allowed them to equalise.
“It was disappointing because we were the better team against a really good Alloa side, who I have a lot of respect for.
“It would have been good to beat them, but we’ll take the point and move on. At least it stops the run of defeats here.”
The result means Peterhead have won just one of their last six matches at Balmoor but McInally would still rather play home matches even though their away form is far more impressive.
McInally said: “I love matches here. It is a terrific pitch and it is just the way it has been for us lately. We do play some good stuff here and it is disappointing that we never get much to show for it. Even when we got in front in this match, we could not see it out which is probably a sign of a team that has had a couple of setbacks.
“But we have the best pitch in Scotland and it is good to play on it.”