The pool remains tight, however, after Harlequins shocked Racing Metro on home soil, and victory for the Scarlets in Llanelli would catapult them right back into the running with two games remaining.
A second successive defeat would leave them on the brink of an early Heineken Cup exit for the seventh season running, though, as Clermont could be as many as nine points clear of Owens and co heading into Round 5.
"We have just got to get the win, simple as. If we can finish the weekend on 10, or hopefully 11 points, we remain in contention," said Owens.
"I don't think a second-place team is going through. If we get the win we are right back in it, if we don't, we are more than likely out."
Simon Easterby's troops were in the mix for large periods in Clermont as they put in brave display against last season's beaten finalists.
They trailed just 6-3 at the break but were eventually blown away by an impressive second-half showing from the hosts, which culminated in Clermont claiming a try-scoring bonus point right at the death.
Welsh cap Owens saw enough last Saturday to suggest that the Scarlets can get the better of Clermont, though, if they can gain a stronger foothold and use possession a little better in West Wales.
"When you are playing a side like Clermont you have got to score points, which we weren't able to do," added Owens.
"We only had 30-odd per cent possession and 30-odd per cent territory. You are never going to beat a team like Clermont with those sort of figures and when you are defending for most of the game.
"We have got to be more accurate in attack and hold on to the ball for longer. We have to try and put them under pressure this week and make them tire by defending.
"We have to upset their continuity and the way they play the game and also be more accurate in attack and put pressure on them that way."