Gary Harkins' first goal for St Mirren against his former club cancelled out Kris Boyd's opener to give Lennon's men a point, but it could have been all three after a foolish punch from Boyd reduced Kilmarnock to 10 men for the final half hour giving the initiative to the home side.
But, despite some sustained pressure in the closing stages, Saints failed to find the winner.
Lennon believed his side's performance had merited a win and he said: "We have a lot of creativity in the side, players that can open up defences and for the first 15 minutes and after the sending off I though we produced some great football.
"Gary Harkins produced some great solo runs and balls across the face of the goal and thoroughly deserved his goal. It was a great game of football and Kilmarnock defended admirably when they went down to 10 men."
The Saints boss did not see the incident involving Boyd and Jim Goodwin but acknowledged that in today's game you cannot react with your hands.
He said: "They both had a bit of a battle and there was maybe a little bit of frustration but you have to control your emotions.
"From our point of view we should have gone on to win and it was really a case of two dropped points.
"Steven Thompson has forced two great saves from Craig Samson and we had more chances as Paul McGowan came into the game.
"We want to climb the table and in these circumstances, with an extra man and given the number of chances we created, we need to take maximum points from our home games".
Kilmarnock boss Allan Johnstone, having watched his side squander the lead and then needlessly reduced to 10 men, had mixed emotions.
Johnstone said: "I haven't seen the incident but Boyd has apologised to the boys and he knows it was just a stupid reaction.
"It is not like him and I think that he and Jim Goodwin had challenges throughout the game. But he is a big player for us and after scoring it was disappointing because we were in control of the match at that stage.
"We were hanging on towards the end but it was a great reaction from the players and they did really well to hold on until the end."