Late in the match, Yeovil's best chance fell to Marcus Stewart whose diving header struck the ground and bounced over the Blackpool crossbar.
Yeovil dominated the latter stages and pushed forward which allowed Nottingham Forest to break in the final minute of the game, when Jack Lester was brought down by Terrell Forbes to concede another penalty.
Alan Wright scored an own goal eight minutes from full time after the ball deflected in off him from a Jean-Paul Kalala shot which struck the Yeovil goalpost.
Despite further domination from the visitors, Oldham equalised on 75 minutes with a penalty: Michael Jackson fouled Chris Porter in the Blackpool area and Andy Liddell scored the resulting spot-kick.
Andy Morrell doubled Blackpool's lead with fifteen minutes of the match remaining after Hoolahan had won the ball from Kelvin Lomax.
Keigan Parker scored with a curling shot in the 90th minute and the match ended 3–1 to Blackpool who progressed to the final with a 5–2 aggregate win.
[8] In the two regular league matches between the sides, the game at Bloomfield Road in October 2006 ended in a 1–1 draw, while Blackpool secured a 1–0 win at Huish Park the following March.
For Yeovil, captain Terry Skiverton returned from a groin injury, and was named as a substitute, while Chris Cohen and Anthony Barry awaited fitness tests.
In the 40th minute, Yeovil were forced to make their first substitution of the game when Chris Cohen picked up an injury and was replaced by Jean-Paul Kalala.
[7] Neither side made any changes to their personnel during the interval and Yeovil started the second half strongly, pushing a number of players high up the pitch in attack.
Blackpool exploited that with a counter-attack in the 52nd minute, when Parker doubled the lead with a curling strike into the top-right corner of the Yeovil goal.
Late in the match, Yeovil's best chance fell to Stewart whose diving header struck the ground before bouncing over the Blackpool crossbar.
"[13] His counterpart Russell Slade had experienced defeat with Grimsby Town in the 2006 Football League Two play-off final, and described it as "a double blow" but conceded that Yeovil were "beaten by a better side".