While Portugal might have merited their place in the semi-finals of the European Championships at the expense of England last night, the nation most certainly did not deserve to see their team beaten on penalties.

Not in such cruel circumstances, not after such a valiant battle, not after such a poor refereeing decision and certainly not for the fourth time in a major competition in just 14 years.

Yet the ghosts of Chris Waddle, Stuart Pearce, Gareth Southgate, Paul Ince and David Batty sadly came back to haunt England and cast a long shadow over Lisbon's Stadium of Light.

David Beckham and Darius Vassell will ultimately go down as the men who failed in a penalty shoot-out at the end of a thrilling 2-2 draw.

But it would be sad if those misses came to last longer in the memory than the proceeding two hours of pure sporting drama.

Indeed, the first quarter-final of Euro 2004 was to unfold into such an unpredictable piece of theatre that Michael Owen's superb opening goal now almost feels as if it happened on another day, in another match.

Yet for more than 80 minutes yesterday, that Owen strike looked destined to settle the encounter.

For England, it felt like a dream start.

Our most reliable striker back on the score sheet thanks to a wonderfully instinctive, swivelling finish following Jorge Andrade's miscued header from David James' long clearance.

But scoring can sometimes be the worst thing that can happen to a team's performance.

And just as Croatia's early goal appeared to galvanise England on Monday night, so Owen's third-minute strike somehow came to influence the entire mentality of the game.

Portugal were forced to chase and make the pace, while England simply tried to survive.

They became preoccupied with the prize that was now in sight, rather than the task in front of them.

To make matters worse, the Englishman to whom fear is the most alien concept found himself injured after just 23 minutes.

Before Wayne Rooney's departure with a damaged foot, England had looked dangerous on the counter-attack, with Owen and Sol Campbell both going close to doubling the lead.

But without Rooney, there was suddenly no one in midfield or attack with the same physical strength, mental determination and awareness to keep hold of the ball long enough for his teammates to get forward.

Consequently, England kept retreating, defending and then conceding possession to invite further Portuguese attacks.

But while the likes of Deco, Luis Figo, Ronaldo and Nuno Gomes were seeing plenty of the ball, the hosts struggled to create clear chances in the first half.

The hope was for a regrouping at the interval, yet England sat deeper and deeper as the game wore on, with the midfield looking jaded.

But the final touch from Portugal was missing.

Enter 'Big Phil' Scolari.

In a final throw of the dice, the man who led Brazil from a goal down to victory against England at the 2002 World Cup, took off star player Luis Figo as part of a trio of telling substitutions.

In quick succession, on came Simao, Rui Costa and Helder Postiga and suddenly Portugal found their cutting edge.

On 83 minutes, Simao crossed as Tottenham's Postiga found space between Campbell and John Terry to convert a heart-breaking equaliser.

England were somewhat awoken and almost delivered a final counter-punch in the 90th minute when Campbell headed in after Owen's effort had rattled the bar.

But the goal was strangely disallowed by Swiss referee Urs Meier, apparently because of the faintest of touches between Terry and Ricardo.

Suffering at the hands of brilliant Brazilians or efficient Germans is one thing, but being denied by a mistaken grocer from Zurich is not easy to accept.

And so the match went to extra-time and a moment of class in the second period when Rui Costa shook off Phil Neville and blasted an unstoppable drive past James.

Now it was England with something to chase and they secured their ticket in the great lottery of a penalty shoot-out after Terry's flick was controlled by Lampard, who turned and finished magnificently for his third goal in the tournament.

Cue beer showers at pubs all over the country.

But within minutes, England fans were at the other end of the emotional roller-coaster as Beckham began the unbearably tense penalty competition with one of the worst spot-kicks imaginable.

The England captain wildly flung his normally reliable right boot at the ball and sent the ball high into the stands - his third successive penalty miss for his country and his second of the tournament.

Owen, Lampard, Terry, Owen Hargreaves and Ashley Cole then all scored as Rui Costa missed for Portugal to bring on sudden-death.

Postiga nonchalantly chipped past a diving James, before Vassell forced a decent save from Ricardo, who promptly picked himself up and fired home the decisive penalty.

Portugal were in ecstasy and England, after so much hope, in agony at the realisation that a great opportunity had slipped away in familiar fashion.