On an afternoon when they could have had a hatful of goals, Slimbridge were forced to share the spoils and needed a late equaliser to rescue a point after falling behind with ten minutes to go.
Slimbridge almost made the perfect start when, in the first minute, Joey Shutt and Theo Clayson combined well to set up Callum Dark, but his effort was tipped onto the bar by Pegasus Keeper Matthew Apperley, who put in a Man of the Match Performance for the visitors.
Pegasus had two early attempts with ten minutes on the clock, but Slimbridge Keeper Kieron Winstone dealt competently with efforts from Isaac Cooper and then Mike Burgess.
The rest of the half was dominated by Slimbridge - James Tainton's cross on 14 minutes saw no-one on the end of it before Henri Parry-Williams was too high with another effort.
Tainton was unlucky to have his effort saved following good work from Dark in the 32nd minute, before Dark's goal in the same minute was ruled out by the offside flag.
Dark tried again a minute later following good work from Shutt, but again the effort was too high.
Before the break Rhys Sarson created another two good opportunities, but Tainton's effort was saved when he was through on goal, and Apperly made another good save from Toby Soule's effort, leaving the teams level at the half.
Slimbridge continued to dominate the proceedings early in the second half - Tainton's cross was just a little too far in front of Shutt for him to reach, before some more cracking saves from Apperly denied Tainton and then Shutt twice to keep the scores level.
After Sarson's header from a corner too high, Pegasus sparked into life, and it took a crucial double save from Winstone on 65 minutes to keep the visitors off the scoresheet. Five minutes later Harrison Summers beat Winstone but saw his effort come back into play off the Slimbridge post.
Theo Clayson was next to try his luck, but again his effort was too high.
As the game kicked into the final ten minutes, Hadyn Evans was penalised for what looked like a very soft foul (earning a booking as well to add insult to injury), and the resulting Free Kick was swept home by Rory Thompson to give Pegasus the lead.
Three minutes from time, a scrambled goal involving Will Hawes, a possible own goal from Apperley and potential involvement from Will Nsangou-Djiaha levelled things up.
In the fifth minute of stoppage time, Apperley produced a final superb stop from Sarson's effort, as the game ended in an unlikely draw.
Team: Winstone, Hunt (Nsangou-Djiaha 71), Evans, Parry-Williams, Denin, Soule, Clayson, Dark, Shutt, Tainton (Hawes 81), Sarson
Goal: Hawes 87
Supporters Club Man of the Match: Kieran Winstone
Supporters Club Physio of the Match: Natalie Jennings