Yes you can pan fry it just treat it like a beef steak. I would suggest, especially if you like it on the rarer side, pan fry it on high heat to sear both sides and finish it in a hot oven (350 or higher) for a few minutes. That should help to avoid toughen the steak. Remember that is one lean piece of meat so light on the seasoning unless you are cooking it quickly. If your diet can handle it you can make a little garlic or herb butter to put on it when pan frying as well to aid in carmelizing it. I love bison meat, with high cholesterol I have to be careful with red meat, and I am substituting a lot more bison meat lately, and really enjoying it.