Wes Thomas' 12th goal of the campaign earned Cheltenham a point after a shaky start at Northampton.
Billy McKay put the home side into the lead when he headed in Andy Holt's coolly chipped cross from close range.
Thomas then out-paced Ben Tozer to latch onto a long ball and slot past Cobblers keeper Chris Dunn for 1-1.
Thomas shot into the side netting 20 minutes from time, while McKay spurned an opportunity of his own as he glanced a header just wide of the far post.
Northampton Town manager Ian Sampson told BBC Radio Northampton: "The first-half was an excellent display - I thought we controlled the game, and possibly could have gone two or three up at half-time.
"We were disappointed by the way we conceded the goal, but we move on and go again next week.
"We've made two bids for players, so we're waiting to hear back from those."
Cheltenham Town boss Mark Yates told BBC Radio Gloucestershire: "We weren't as good as we wanted to be today, particularly in the first half. The second half was far more even. Nothing really troubled us in the second half.
"I'm delighted with a point at a really hard place to play. We came here for three but after the way we started I'm happy.
"Wes (Thomas) scored a good goal and we could have got a couple more but we didn't dominate as we would have liked."
Live text and stats
Saturday, 8 January 2011
Npower League Two
07 Gilligan (Herbert 61)
08 Osman yellow card
12 Wedderburn (Thornton 76)
16 McKay (King 61)
14 Melligan (Artus 74)
09 Thomas (Jeffers 78)
10 Goulding (Walsh 77)
Ref: RushtonAtt: 4,031
Attempts on target
Attempts off target
90:00+5:13 The referee signals the end of the game.
90:00+4:10 The assistant referee flags for offside against Phil Walsh. Chris Dunn takes the free kick.
90:00+2:31 Corner taken right-footed by Marlon Pack, save made by Chris Dunn.
90:00+1:30 Abdul Osman concedes a free kick for a foul on Danny Andrew. Marlon Pack has a direct shot on goal from the free kick, save
made by Chris Dunn.
86:54 Free kick awarded for an unfair challenge on Kevin Thornton by Michael Pook. Direct free kick taken by Liam Davis.
85:08 Shaun Jeffers is flagged offside by the assistant referee. Free kick taken by Chris Dunn.
83:59 Effort from inside the area by Andrew Holt misses to the left of the goal.
83:04 Inswinging corner taken right-footed by Michael Jacobs played to the near post, clearance made by Steve Elliott.
82:35 The assistant referee flags for offside against Phil Walsh. Ben Tozer takes the free kick.
80:31 Free kick awarded for a foul by Phil Walsh on Liam Davis. Liam Davis takes the free kick.
78:38 Foul by Courtney Herbert on Steve Elliott, free kick awarded. Steve Elliott takes the free kick.
75:55 Substitution Wesley Thomas leaves the field to be replaced by Shaun Jeffers.
75:55 Substitution Phil Walsh on for Jeff Goulding.
75:55 Substitution Kevin Thornton is brought on as a substitute for Nathaniel Wedderburn.
73:09 Substitution John Melligan leaves the field to be replaced by Frankie Artus.
71:19 Craig King fouled by Steve Elliott, the ref awards a free kick. Shot on goal comes in from Liam Davis from the free kick,
save by Scott P Brown.
69:02 Effort from the edge of the area by Wesley Thomas goes wide of the right-hand upright.
60:10 The assistant referee signals for offside against Wesley Thomas. Indirect free kick taken by Chris Dunn.
60:10 Substitution (Northampton) makes a substitution, with Courtney Herbert coming on for Ryan Gilligan.
60:10 Substitution Craig King joins the action as a substitute, replacing Billy Mckay.
54:14 Nathaniel Wedderburn decides to take a short corner.
53:24 Handball decision goes against John Melligan. Michael Jacobs delivers the ball from the free kick right-footed from left wing,
Danny Andrew manages to make a clearance.
52:47 Billy Mckay takes a shot. Save by Scott P Brown.
49:28 Ryan Gilligan gives away a free kick for an unfair challenge on Danny Andrew. Scott P Brown takes the direct free kick.
47:09 The assist for the goal came from Scott P Brown.
47:09 GOAL - Wesley Thomas:Northampton 1 - 1 Cheltenham Wesley Thomas grabs a goal from just inside the area to the bottom right corner of the goal. Northampton 1-1 Cheltenham.
45:01 The referee blows his whistle to start the second half.
45:00+1:07 The ref blows to signal half-time.
41:57 Unfair challenge on John Johnson by Jeff Goulding results in a free kick. Chris Dunn restarts play with the free kick.
41:36 The offside flag is raised against Andrew Holt. Direct free kick taken by Scott P Brown.
40:15 Wesley Thomas fouled by John Johnson, the ref awards a free kick. Danny Andrew restarts play with the free kick.
38:27 Corner taken by Danny Andrew from the right by-line played to the near post, clearance by Dean Beckwith.
34:08 Inswinging corner taken right-footed by Michael Jacobs.
31:37 Corner taken left-footed by Danny Andrew, Close range header by Steve Elliott goes wide of the left-hand upright.
29:46 Inswinging corner taken by Ryan Gilligan from the left by-line, save by Scott P Brown.
29:21 Ryan Gilligan decides to take a short corner.
26:55 Ryan Gilligan has an effort at goal from outside the box which goes wide right of the target.
23:34 Ryan Gilligan takes a inswinging corner to the near post, save by Scott P Brown.
17:09 Nathaniel Wedderburn challenges Marlon Pack unfairly and gives away a free kick. Free kick taken by Marlon Pack.
14:42 Billy Mckay fouled by Danny Andrew, the ref awards a free kick. Nathaniel Wedderburn takes the direct free kick.
13:46 Abdul Osman challenges Michael Pook unfairly and gives away a free kick. Free kick taken by Danny Andrew.
13:46 Booking Abdul Osman goes into the referee's book for unsporting behaviour.
11:57 The referee blows for offside against Ryan Gilligan. Scott P Brown takes the free kick.
10:23 The offside flag is raised against Billy Mckay. Free kick taken by Scott P Brown.
8:42 Assist by Andrew Holt.
8:42 GOAL - Billy Mckay:Northampton 1 - 0 Cheltenham Billy Mckay scores a headed goal from inside the six-yard box. Northampton 1-0 Cheltenham.
6:34 Free kick awarded for an unfair challenge on Michael Jacobs by John Melligan. The free kick is swung in right-footed by Michael
Jacobs, Scott P Brown makes a save.
0:34 Abdul Osman gives away a free kick for an unfair challenge on Marlon Pack. Scott P Brown takes the direct free kick.
0:00 The match has kicked off.
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