It was an exciting end to a dour first hour which was punctuated by dropped ball.
The Sharks forced their way ahead for the first time in the 69th minute when Michael Gordon outjumped Matt Moylan and crossed between the posts, with the conversion putting the home side ahead 18-14.
Penrith led 12-10 at halftime and the score was pushed to 14-12 after both slotted penalty goals early in the second stanza before Gordon's effort sparked both teams into action.
The Sharks played much of the game without Todd Carney, who left the field in the 17th minute.
Penrith had to play without back rower Elijah Taylor for much of the game after he suffered a knee injury.
Josh Mansour scored first for the Panthers in the ninth minute when Beau Ryan dropped a Peter Wallace kick and the big winger scooped up the spoils. Jamie Soward landed the sideline conversion.
In an absorbing but error-strewn contest, Carney struck next for the Sharks when he dragged Wallace over the line in the 17th minute. Carney limped off shortly after.
Quick hands on Penrith's right side created their second try when David Simmons scored. Soward again landed the conversion.
In-form centre Ricky Leutele brought the Sharks within two points on the stroke of halftime when James Segeyaro dropped a Robson grubber on his own line.
Robson regathered and passed to Leutele, who scored, while Gordon converted for the 12-10 score at the break.
Sharks 24 (T. Carney, M. Gordon, R. Leutele, J. Robson tries; Gordon 4 goals) Panthers 20 (J. Mansour, D. Simmons, P. Wallace tries; J Soward 4 goals).
North Queensland Cowboys comfortably accounted for surprise package Parramatta Eels in Townsville last night.
Johnathan Thurston scored the first of the Cowboys' six tries and converted them all for an 18-point haul in the 42-14 win.
The win lifts the Cowboys to 12th on the ladder, one behind the Eels in a tightly congested field.
Cowboys 42 (J. Thurston, K. Linnett 2, C. Rona 2, M. Morgan, M. Scott tries; Thurston 7 goals) Eels 14 (P Pauli, K Sio tries; C. Sandow 2 goals).
- AAP