Raith Rovers came from behind to snatch a point and moved to the top of the Second Division table.
Rovers went in front on 10 minutes when David Goodwillie, shot home from the edge of the penalty box.
The Blue Toon were level when Steven Istead's corner was headed into his own net by Rovers skipper Todd Lumsden.
Istead shot the visitors ahead from 16 yards but the home side were deservedly level with 10 minutes left, Goodwillie heading home Steve Hislop's cross.
Raith Rovers: Fahey, Wilson, Dingwall, Campbell, Lumsden, Walker (Carcary 63), Borris (Weir 85), Davidson, Hislop, Goodwilly, Sloan. Subs Not Used: Tod, Winter, Renton.
Booked: Campbell, Borris, Davidson, Hislop.
Goals: Goodwillie 11, 80.
Peterhead: Kula, Buchan, Mackay, Good, MacDonald, Anderson, Sharp, Soane (Cowie 89), Kozminski (Bagshaw 84), McKay, Istead. Subs Not Used: Monroe, Munro, Bruce.
Booked: Good, Sharp, Mackay.
Goals: Lumsden 19 og, Istead 65.
Ref: A Muir