"It's the obvious thing to say but the overriding emotion is one of disappointment," said Jones.
"I think we have to reflect on it as a missed opportunity, but trying to look at the positives, I'd have to say that we managed to get something out of it at the end when it looked as though all was lost.
"There were periods in the game where I thought the flow was good and we played some pretty decent stuff, but there were long passages of play where we failed to dominate possession or territory and that was a telling factor.
"I think we are clearly still rusty as a team. We aren't quite firing together but we are getting better. I think we showed signs, I genuinely do, there were some passages of play that showed what we are capable of, but as a team, collectively we fell short of where we need to be and that's disappointing for everyone, there's no getting away from it.
"The positive is that there is clearly still more to come. We could do with time together now but things are what they are and the focus has to be on other things for a couple of weeks, but we are no different to anyone else there.
"Let's be honest about things, we are still in a fantastic position despite the disappointment so I'm sure the long faces won't be around for too long. We are still unbeaten in this competition and are still very much in the driving seat.
"There are two massive games against Saracens to come now and I'm sure our supporters are looking forward to as much as we are. It's what the Heineken Cup is all about. It's why it's such a wonderful competition. There will be plenty of twists and turns over the next four rounds, so it's far too early to rule anyone in or out, but we do know the Saracens games will be huge.
The Ospreys travel to Wembley on Saturday December 10 to face English Champions before welcoming Saracens to the Liberty Stadium the following weekend.