South Wales Scorpions were just three minutes away from securing their third win of the season before heroics in the last 60 seconds at Iffley Road turned a draw into a win for Oxford.
The Scorpions took the lead during the August 31 match with seven minutes left, but two late tries and a drop-goal stole the points from them.
Oxford took the lead when Rory Sharratt went over from dummy half and Jimmy Rowland converted. Scorpions levelled after winning repeat sets and Harrison Elliott stormed over and Paul Emanuelli added the goal.
Andrew Hoggins scored a stunning try for Oxford as he ran from half-way and weaved through half of the Scorpions side. Rowland’s conversion put the home side 12-6 up.
Scorpions hit back following an Emanuelli 40-20 and, from a penalty at the scrum, Lloyd O’Connor scored a classic hooker’s try from the dummy half position.
Emanuelli converted and the sides went in level at the break.
Early in the second-half, a fine run and try from Ian Newbury, converted by Emanuelli, put Scorpions in the lead for the first time.
But Oxford drew level when Matty Hadden ran through to score a converted try.
Back at the other end a good passing move set up youngster Paul Edwards who ran through to score with seven minutes left on the clock, but the conversion went wide.
Oxford kept their heads and claimed the spoils. They won a penalty on the half-way line and after a healthy kick, Marcus Brooker scored in the corner.
Rowland missed the kick withe the scores level but made up for it in the final minute when he kicked the kick the winning drop-goal.
Sam Blaney then chased a hopeful kick and outran his markers to get the final try and secure the win.