Pana= buddy, pal
This is absolutely correct.
Pana means buddy or pal in the countries where it is used. It is classified as familiar or colloquial speech and used commonly by the local population. Spanish-speaking countries where I have heard it used most are Venezuela, DR and Colombia.
Pana carries the equivalent meaning of
amigo and
'compinche' which is very commonly used as well in Latin America.
-LDG.