But in the Amlin the Irish side would seal a home semi with a win over Wasps at Adams Park on Friday.
Ahead of the clash there is some good news for Schmidt's injury-hit squad as Gordon D'Arcy, Fergus McFadden and Sean O'Brien are all pushing for a recall.
And Schmidt is desperate for his side to repay their supporters who saw their side give Ulster their first win in Dublin for 14 years.
"In this competition [Amlin] it's about trying to get back to a home semi-final. We think we've probably let that slip in the RaboDirect PRO12 so it would be nice for our supporters to have one at home," he said.
"A European trophy is a European trophy. It's maybe not the one we initially would have liked but it's still one we'd still like to win.
"Gordon D'Arcy was ill so we were hopeful that he would be back by Monday, Fergus has been making good progress back from his rib injury and Sean we were just managing after the Six Nations so he should come back into contention.
"So it's not all a nightmare story, Jonny Sexton won't make it in time, Luke [Fitzgerald] is out, Eoin Reddan is out, those guys do make a bit of a hole but in their absence players have done really well.
"To say we are frustrated is an understatement [about the Ulster defeat]. But at the same time Ulster had done a great job getting the scoreboard ticking over earlier than that. We were chasing the game."
63x46.png){kind=logo}