The Bantams will travel to Devon for a replay on November 16 aiming to book their place in the second round of the competition.
Exeter's equaliser highlights a worrying trend that is developing for City, who have been no stranger to conceding late goals this season.
In League Two, a third of the goals they have let in have come in the final 15 minutes of games.
However, Angol feels that Bradford need to improve at the other end of the pitch and become better at killing teams off.
“It was not the best result. We now have to go down to their place and play again for a spot in the next round," reflected Angol.
“We had a lot of chances to see the game off - and we did play well - but did not take them. In football, if you do not take your chances, it comes back to bite you.
“It is encouraging that we played so well against a top side like Exeter but, at the same time, we did not win. We will go back to the training ground and work on the same things.
“We need to start being more clinical as a side, and seeing teams off, because we could have easily been out of sight in this one.
“It was not meant to be, but there were plenty of positives to build on as team, so we just need to keep moving.”
Angol came off the bench after 77 minutes against Exeter as he made his first appearance since the Bantams' 4-1 win over Stevenage in August.
He hopes to get himself back on the pitch again on Tuesday night when Bradford travel to Sunderland in the Football League Trophy.
He added: “Personally, it was nice to be back out there and it was great to get such a good reception when I came on.
“It has been a long period off for me but, at the same time, I am just looking forward to getting back in the team and pushing on.
“For me, personally, the game against Sunderland this Tuesday will be a good one to get some minutes in.”
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