Image-to-physical registration based on volumetric data like computed tomography on the one side and intraoperative endoscopic images on the other side is an important method for various surgical applications. In this contribution, we present methods to generate panoramic views from endoscopic recordings for image-to-physical registration of narrow drill holes inside spongy bone. One core application is the registration of drill poses inside the mastoid during minimally invasive cochlear implantations. Besides the development of image processing software for registration, investigations are performed on a miniaturized optical system, achieving 360° radial imaging with one shot by extending a conventional, small, rigid, rod lens endoscope. A reflective cone geometry is used to deflect radially incoming light rays into the endoscope optics. Therefore, a cone mirror is mounted in front of a conventional 0° endoscope. Furthermore, panoramic images of inner drill hole surfaces in artificial bone material are created. Prior to drilling, cone beam computed tomography data is acquired from this artificial bone and simulated endoscopic views are generated from this data. A qualitative and quantitative image comparison of resulting views in terms of image-to-image registration is performed. First results show that downsizing of panoramic optics to a diameter of 3mm is possible. Conventional rigid rod lens endoscopes can be extended to produce suitable panoramic one-shot image data. Using unrolling and stitching methods, images of the inner drill hole surface similar to computed tomography image data of the same surface were created. Registration is performed on ten perturbations of the search space and results in target registration errors of (0:487 ± 0:438)mm at the entry point and (0:957 ± 0:948)mm at the exit as well as an angular error of (1:763 ± 1:536)°. The results show suitability of this image data for image-to-image registration. Analysis of the error components in different directions reveals a strong influence of the pattern structure, meaning higher diversity results into smaller errors.