But he reckons his charges can avenge their defeat when they welcome the Chiefs to Rodney Parade but only if they perform for the full 80 minutes.
"It is a huge match - we want to stay in this competition and do well, said Edwards.
"We've got to shoot for the stars and get there. It's all about pace, tempo and having a go. There's no reason why we can't win next week we just need to perform."
Edwards believes the Dragons only had themselves to blame for the defeat with Ignacio Mieres punishing their indiscipline with six penalties. He insists the Men of Gwent were more than comfortable defensively and will have extra firepower this weekend.
"It was a really poor first half, there was no intensity from us and we didn't believe we could use any processes of our game.
"We have very good players but they just didn't play to their potential. It's very difficult to play against Exeter's style of game when you're getting kicked 60 metres back and can't change direction because of the wet weather.
"But when we addressed that at half-time we took away all of Exeter's strengths. Their lineout and driving game was dealt with and we didn't look under any pressure of conceding a try even with their power game.
"From a defensive point of view we didn't have to deal with one single line break. We were very comfortable in defence.
"It was very frustrating that we started at 40 minutes rather than at the kick-off.
"Failing to get the bonus-point was the big disappointment. We had put ourselves in a good position in this competition and leaving here with a bonus-point would have been no shame. It's a double disappointment.
"But they're fourth in English Premiership and we're not a million miles away from that. We could have been better and can take them at home.
"We will have some serious fire power this Sunday. We've got Will Harries, Andy Tuilagi, Tonderai Chavhanga and Aled Brew all coming through.
"It's just a boost that I've got a full squad to pick from and we picked up no serious injuries."