The Spanish striker was dismissed after clashing with Jack Cork then appearing to spit at Andy Butler, but Town boss Jim Magilton insists Counago should not have seen red.
"We've looked at the video and it's 'handbags' at best," he told the club's official website.
"We think we've grounds for an appeal and will be putting together video evidence to back our case.
"Their lad puts his hand in Pablo's face and Pablo just pushes him away. I think the referee could have pulled the two of them together and told them to 'grow up' and left it at that."