I found a really good and easy to follow tutorial at: http://abduzeedo.com/reader-tutorial-making-little-planets  It teaches you how to make a mini planet. I thought I would give it a go and I came up with this little tranquil oasis. The process is really easy and simple, I spent most of my time tidying it up so that it joined neatly. If you had a true 360 panoramic to start with then in theory it would match up perfectly by default.

This mini planet is of Southsea Skatepark, credits go to Kewy for the original panoramic photo.