The boss told ShrewsWeb: "Ours was a definite penalty after Kevin Sharp has been dragged down.
"Had we not had a penalty two minutes earlier theirs would never have been given, their bench was laughing and saying it was no penalty, the fourth official said it wasn't a penalty the only person who though it was was the referee."
Peters was also unimpressed by the decision which saw Jamie Tolley dismissed, "Jamie should have got a yellow card and I don't know how that's a red card in any form," Peters added. It has since emerged that Town will not appeal for fear of seeing Tolley's statutory ban extended.
But Peters also had praise for his battling side's belief, he explained: "There wasn't a player out there who thought we weren't going to win this match, we're down to 10-men and already 2-1 down but we'll get something out of this."
And the manager also had some complimentary words for the visitors: "Barnet are a decent side who can pass and play, they try and drag you into their passing across the back to stretch you, they remind me of Wycombe in their athleticism, ability to pass the ball and run at you and I was quite impressed with them," he said.
Meanwhile, Barnet boss Paul Fairclough seemed happier with the ref's performance, saying: "I don't think anyone could argue about either sending off although in Ismail [Yakubu]'s case it was an error of judgement and in no way vicious."
Fairclough also said he believed Town were fortunate to take a point from the game.