Canterbury debutant Kerrod Holland has kicked a goal after the siren to hand the Bulldogs a thrilling 18-16 comeback NRL win over Penrith.

Bulldogs half-back Moses Mbye crashed over on the final play of Thursday night's match, giving the first-gamer a shot to win the game and ruin the Panthers' 50th anniversary celebration.

SCOREBOARD: PANTHERS 16-18 BULLDOGS 16-18 in Penrith, March 10, 2016 321 Tackles 325 1 Linebreaks 4 5 Errors 11 84% Completion rate 66% Penrith Panthers: P Hiku, S McKendry tries; J Soward 2 cons, 2 pens Canterbury Bulldogs: M Mbye 2, W Hopoate tries M Mbye con; K Holland 2 cons

"Outstanding, mate. I knew it was going over. I knew straight away. It was always going over," Holland said post-game.

Penrith looked headed for their first win of the season when it raced out to a 14-0 lead after just 20 minutes, including a jolting hit from Reagan Campbell-Gillard on Aiden Tolman that set up first points.

However, in front of a healthy crowd of 11,125, the Bulldogs limited the home side to just two points in the second half to complete a perfect two from two wins to start the season.

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It was all the home side in the opening exchanges, Sam McKendry barging over from close range, and then Bulldogs captain James Graham put on report for a shoulder charge on Campbell-Gillard.

Coach Anthony Griffin's decision to start Peter Wallace at hooker and Tyrone Peachey in the halves also seemed to pay off, with the Panthers rolling through the ruck with ease.

But the visitors hit back through a 24th-minute try to Will Hopoate to go into the sheds down 14-6.

Despite failing to find the tryline in the second half, Penrith - led by five-eighth Jamie Soward - still appeared destined for victory until Mbye scored to reduce the gap to four.

Tolman came off with a concussion test in the 17th minute and didn't return, while Penrith centre Dean Whare also succumbed to a calf injury late in the second half.

AAP