Pleas don't do that. I epoxied flat head screws where the old studs were. There are some real trick epoxies out there, just make sure you have one that bonds with the panel. Your local autobody paint supplier would be the best resource.
Q-bond Quick bonding (like 1 second) ultra strong adhesive & filling powder
The demo I got at the paint & body supply store (Westco) was the guy took a razor blade put some powder on a paint stick, put the blade on the powder, added the liquid and done. The wood broke before the bond.