The answer is definitely NO. Wellbutrin (bupropion) is not effective for panic disorder or other anxiety disorders. The only antidepressants which are effective for anxiety disorders have strong effects on the neurotransmitter serotonin, such as SSRIs and SNRIs.
Wellbutrin has strong effects on the neurotransmitter dopamine, and therefore does not have any effect on anxiety disorders, such as panic disorder.