The Spain international striker netted an opportunistic goal, his 17th of the season so far, before the Navarrans levelled at the death in a drab affair in Pamplona
After Roberto Soldado had given the visitors the lead with just five minutes remaining it looked as though Los Che had snatched the three points. However, Lolo poked in an equaliser at the death to ensure the Navarrans took their share of the spoils.
Valencia struggled to settle at the often intimidating Reyno de Navarra but the home side failed to take advantage. Alvaro Cejudo and Marc Bertran combined well down the right wing early on but the hosts could not find an end product.
With little goalmouth action in a dull affair, the greatest talking points came from two Osasuna penalty appeals midway through the first half.
Firstly, Raul Garcia was seemingly pulled down in the box and shortly after his shot was deflected onto the arm of Dealbert. Both claims were particularly weak and neither was awarded by the officials.
The first real chance of the game fell to Soldado. The in-form striker drove down the right side of the box and opted to shoot for the near post, but only managed to find the side netting with his effort.
After Jonas sent another shot wildly high for the visitors, Osasuna had a third penalty claim turned down with 10 minutes of the first half remaining.
A poor pass back to Diego Alves put the keeper under immense pressure and his clearance cannoned off of Lekic. As the two chased the ball the striker fell to the ground under minimal contact and the referee was unmoved, leaving the partisan crowd incensed.
The home fans grew increasingly frustrated with the man in the middle and a chorus of whistles engulfed the ground after a sluggish and extremely disappointing first half for both sides.
The second period began with a stark difference. Raul Garcia was again heavily involved for the Navarrans as his bullet header from Cejudo’s corner forced a strong save from Diego Alves just five minutes after the restart.
The Brazilian keeper was at it again three minutes later as he scurried across his goal to save terrifically from Javad Nekounam’s pinpoint free kick.
Unfortunately the game then settled back into a slow rhythm as both sides lacked invention and creativity in all parts of the pitch.
However, the deadlock was finally broken in the 85th minute with a goal that summed up the nature of the game.
A quick throw by Jordi Alba found Tino Costa in space at the edge of the box. His sliced shot fortuitously found the head of Soldado, who was played onside by Sergio, and the Spain international diverted the ball into the net.
The game looked over but David Albelda was dismissed for the visitors in stoppage time, and moments later the Navarrans found an equaliser. Cejudo's free kick was untouched in the box and Diego Alves could only push the ball back into the danger area. Substitute Lolo was on hand to stab into the open goal and level the scores at the death.
The difference between the two sides remains at eight points in the table, though Osasuna could drop down to 10th position should other results go against them. Valencia have now gone three league games without a win and face Racing Santander in their next league fixture.