A weekend 2-0 defeat by Larne arrived despite a positive overall performance as, ultimately, the inability to turn possession into an end product proved decisive.
Only two teams - Lisburn Distillery and Institute - trail Annagh in terms of goals scored this season across the league.
“Overall, I was really pleased with our display so finished disappointed with the end result against Larne,” said Smith, the Annagh manager. “We created some good chances but lost the match to a penalty kick and injury-time goal.
“We feel the foul was outside the box for the penalty kick but, overall, we need to start putting away chances.
“Last season in Championship Two we probably created twice as many openings so need to become more clinical.
“It is not about struggling to get in behind teams and work openings as much as putting away those chances.
“If you carve out three or four sights of goal in a game you should be coming away with something.
“We have the quality in the squad and will continue to work hard, with Saturday our best away performance of the season.”
Annagh will enjoy a free weekend.
The club’s reserves recorded a 4-0 success over Newry Grasshoppers in the Mid-Ulster Shield thanks to Jamie Smith’s hat-trick and a Chris McIlroy finish.