After a slow start from both sides, AFC Telford began to up the tempo, with Josh O'Keefe heading wide moments after Phenix had seen his mazy run halted by a last-ditch challenge.
Barnet were struggling in the final third, with Lee Cook failing to produce the goods for the first time this campaign, and the home capitalised shortly before the break when they took the lead through a penalty from Tony Gray, after Curtis Weston had been adjudged to have handled in the area.
Telford had the better of the opening exchanges of the second half, but, after Graham Stack had kept the home side's lead down to one, the league leaders started to find their feet and they deservedly equalised through Cook, who found the back of the net with a long-range strike.
That put the Bees in the ascendancy and with 10 minutes remaining, they completed the turnaround when, despite being faced with a number of bodies in the six-yard box, Elliot Johnson found a gap through which to direct the ball into the net.
It looked like Barnet would hold on to another three points, but deep into stoppage time, Phenix got on the end of a cross from Andy Owens to earn his team a valuable point, which still was not enough to stop them falling to the bottom of the table.