Irish Panther, trained by Eddie and Patrick Harty, saw off Willie Mullins' ace Kopek Des Bordes at Naas on Sunday.
Kopek Des Bordes emerged as Timeform's highest-rated (163p) novice chaser despite a slightly frustrating campaign which featured an Arkle second and Punchestown fall late last term and he was sent off the 1/4 favourite on his seasonal debut in the Grade 3 Barberstown Castle Chase.
However, Irish Panther (100/30) had other ideas and the more experienced nine-year-old jumped and galloped the odds-on market leader into submission.
It was a second chasing success for Irish Panther, who was sixth when pitched into last season's Queen Mother Champion Chase at Cheltenham despite still being a novice himself at that point.
He had won at Naas earlier in the season and clearly relished the return to the scene of that success, taking the two-mile contest by the scruff of the neck rounding the top turn under Kieren Buckley and making the best of his way home.
The front-running Westport Cove (14/1) and only other rival, the 150/1 shot Rockstown Girl, were both beaten off by the second-last fence and while Kopek Des Bordes continued to jump adequately, he was a couple of lengths in arrears as Irish Panther took the last fence and that gap had extended to 10 by the winning post.
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Paddy Power cut the surprise winner to 25/1 (from 100/1) for the Queen Mother Champion Chase at Cheltenham in March, with Kopek Des Bordes eased out to 8/1. The market is topped by Mullins stablemates Il Etait Temps (2/1) and Arkle winner Kargese at 4/1.
Mullins said on Racing TV regarding the runner-up: "Beaten again... I just thought looking in the parade ring that the winner probably pulled out sharper than we did and I'm hoping we've a lot of improving to do.
"I was happier with the way he jumped. I mean, it's still not perfect. But a better pace and once he gets more confidence in his own jumping he'll be good.
"I'm keen to (stay over fences). Some people are saying to go down the Champion Hurdle route but I'm always keen to keep going down the chase route until you have to stop. Today I don't think we have to stop so he'll run again over fences at Christmas."
"I thought there was loads (of positives to take from the race)," said Townend. "I thought at the start we were going to have an awful job with him but he has that bit done now and he's a day at the races done. I just thought he got very tired.
"He jumped pretty well on the whole I thought and he got tired up the straight."
'I had a great time!'
Winning jockey Kieren Buckley said: "God, he deserved that. We got our hearts broken at Leopardstown last year, we had the race won up to the last 100 yards, so it's good to get a Graded win to his name.
"He'd only ever won a maiden hurdle and beginners chase before today. So we deserved it. I can't thank them enough (owners and trainers).
"The pressure was all on Paul, so I did enjoy myself. I had a great time!
"He was very brave, I'd say he was just running a little bit fresh - first start of the season and all. I just gave him a squeeze down to the third-last because he was coming for me anyway, I thought I may as well go with him, and he changed his mind and chopped in a short one. But even then, he was straight back onto the bridle and he winged the second-last. That was my only time bit of a worry, but he's good on his feet.
"There's a lot of big guns to take on now through the season. But he'll take a step forwards and I'd imagine he'll go to Leopardstown next."
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