Raharney led their opponents by six points just before injury time.
Lough Lene Gaels effectively ended Raharney's defence of the Westmeath Senior Hurling Championship after a thrilling contest in Cusack Park.
The title holders held a commanding eight point lead at halftime thanks to goals from Robbie Coyle and Ciaran Doyle.
Lough Lene Gaels came back gradually over the course of the second half.
First with points from David Williams, Derek McNicholas, and Shane Williams, and then Warren Williams raised a green flag for last year's beaten finalist late on to close the gap to just two points.
Eoin Keyes responded immediately with a goal for Raharney to move them into an apparently unassailable six point lead at the end of normal time.
However a point from David Williams, and goals from Shane Williams and Tommy Doyle secured a dramatic one point win for the Gaels.
The final score was 4-17 to 3-19.
Elsewhere, Castletown Geoghegan were in ominous form in beating Castlepollard 3-27 to 0-16, while Clonkill ran out 2-20 ot 0-17 winners against St Oliver Plunketts.
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