Revenge:
Yes you can use that panel to mount a sub-woofer.
Free air subs (or IB for infinite baffle) are made to be used when a box is not an option. So, just make sure the sub you put there is light, and low powered so that it wont sag over time, unless you make some reinforcements.
Here are some free air options:
free air sub woofer, Car Electronics, Parts Accessories items on eBay.com=
I would go with the JL.
And yes it will satisfy what you are looking for.
my .02
