A brace from David Elm and a goal from Toni Kallio ensured a share of the points for the Whites in an entertaining affair.
The game certainly got off to an eventful start. David Elm gave the Whites the lead after only two minutes with a wonderful finish after good work from Michael Uwezu. Unfortunately the lead lasted only a minute as the home side hit back through Billy Knott.
Chelsea were temporarily reduced to ten men when Michael Woods left the pitch after receiving a kick to his ankle - he was soon replaced.
The game settled down after the frantic start with only a few chances falling to either side. Certainly Fulham were looking settled and organised in their attacking shape but it was Pascal Zuberbuhler who was the busier keeper - the Swiss custodian was called upon to make two important saves within the first 20 minutes and also saw a Chelsea effort graze the upright on 21 minutes.
Up front for Fulham, David Elm and Michael Uwezu were looking lively and helped keep the ball well during the Whites' more promising attacking moves. Good link-up play from Uwezu and Elm helped tee up a good opportunity for Davies on 23 minutes. Unfortunately Fulham's Welsh star saw the ball nicked off his toe just as he was about to pull the trigger.
David Elm netted his second goal of the match on 35 minutes following a nicely constructed Fulham attack. Good build-up play on the right side saw Keanu Marsh-Brown deliver a diagonal ball into the box. Simon Davies chested the ball down to Elm who fired a low first-time effort past Turnbull.
Chelsea tried hard to get back on level terms but Fulham reached the interval a goal to the good.
Michael Uwezu was played in behind the Chelsea defence by Matthew Saunders early on in the second-half but was upended by a dangerous tackle from the onrushing Chelsea goalkeeper, Ross Turnbull - who earned a yellow card for his trouble.
Chelsea were back on level terms on 59 minutes after Daniel Sturridge was played in behind the Fulham back line, the Chelsea striker took the ball around Zuberbuhler and passed into an empty net.
Fulham were back in front two minutes later when a Davies free kick was headed back into the danger area by Elm for Toni Kallio to smash the ball past Turnbull. The goal spurred Fulham on as the Whites put Chelsea under a spell of extended pressure, to which the home side had no answer.
David Elm came close to netting his hat-trick when Ross Turnbull's weak clearance fell to Elm who quickly managed to get the shot away only to see it deflect wide.
Chelsea equalised on 82 minutes when a run and cross from Sturridge found Milan Lalkovic in the middle of the six yard box. Lalkovic made no mistake with his header and the Blues were back on level terms.
Lalkovic's goal was the last of the action on Monday night with both teams taking a point from the match.
Fulham Reserves: Zuberbuhler; Marsh-Brown, Smalling, Kallio, Briggs; Davies, Saunders, Moscatiello, Anderson; Uwezu (Hoesen 83), Elm
Chelsea Reserves: Turnbull; Ofori-Twumasi, Bruma, Mills, Gordon; Woods (Clifford 7); Ahamed, Knott (Philliskirk 80); McEachran; Lalkovic, Sturridge
Read more: http://www.fulhamfc.com/Club/News/NewsArticles/2009/November/ChelseavReserves.aspx#ixzz0lHIBsoqw