Luke Walsh's winning field goal has delivered Penrith a dramatic 23-22 NRL victory over Parramatta in a heartbreaking finish for Eels' skipper Nathan Hindmarsh in his 300th game.

The Panthers' Michael Jennings and Lachlan Coote combined after the siren to draw their side level at Centrebet Stadium, before Walsh's steady boot potted the clincher after six minutes of golden-point extra time.

Eels' fullback Luke Burt had earlier shaved the upright with a 40-metre attempt in the first period of extra time.

Penrith were dead and buried until one second of madness produced some magic in the western Sydney grudge match.

In a game of high drama, Penrith managed to charge down an Eels' kick with just seconds left on the clock in regular time - and although Burt retrieved the ball for Parramatta, referee Jarrod Maxwell decided the Panthers hadn't played at the ball and ordered a change-over.

However, Maxwell went a step further and, in the pressure of the situation, decided to rule time-out, buying the Panthers one second to come up with a miracle - and they didn't disappoint.

They threw the ball frantically from one side of the field to the other, before freakish centre Jennings turned the Eels inside out on the left-edge before kicking through for Coote to scream through and touch down for his second try.

Travis Burns slotted the conversion to level the scores at 22-22.

Parramatta legend Hindmarsh gave his heart and soul for his entire career, so it was only fitting in his milestone game that his Eels' team-mates dug deep but, in the end, it was to no avail.

Penrith fullback Coote was everywhere for the Panthers, safe under the high-ball and behind the posts, and typically always present in support play.

He bagged a try on the stroke of halftime when he chased through a Walsh grubber, and made another huge impact in the 63rd minute with a massive defensive and attacking play, all in one.

Parramatta winger Etu Uaisele made a surging kick-return only to run into a big shoulder from the diminutive fullback on the 30-metre line, forcing him to spill the ball.

Showing great presence of mind, Coote scooped up the ball and set sail for the left-hand corner, throwing a precise long pass for David Simmons to cross for his second in the corner to level the scores at 16-16.

Jarryd Hayne continued to make the five-eighth position his own at the Eels, with another commanding performance in the halves - setting up three tries.

But the Panthers managed to get the better in a frantic finish to consolidate their place in the top eight.

Eels' coach Stephen Kearney was upset with Maxwell's decision to call time off with one second left, while Hindmarsh was confused as to why his team didn't receive six again.

"I'm a bit puzzled by the call, but not much we can do about it right now," said Kearney.

Hindmarsh said he was praying for Burt's field goal to sail over, and was shattered at the result.

"Very disappointing, we really needed the two points more than anything," he said.

"I was praying it was going to go through. It was on line - it just faded to the left, right at the end. Again, close enough wasn't good enough."

Hayne picked up a minor knock, while Uaisele and Shane Shackleton suffered concussion, but Kearney said the Eels' major worry was not to have won for Hindmarsh.

"Again, I haven't got words to describe what I think he means to our footy club," he said.

Panthers' coach Steve Georgallis described the victory as a memory that will stick with him for the rest of his life.

"I'll tell you one thing. This last month has probably been one of the most exciting and pleasing months of my life in relation to footy. This team has given me some of the best memories," he said.

Skipper Petero Civoniceva said the way his team fought to the death was typical of the way they have withstood the political storm at the club and the injury setbacks of the past few months.

"It's a sign of the belief in the team. It's been a tough old year. It's been a battle of a year but I'm just so proud of the boys," the Queensland veteran said.

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