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According to the Football411.com website, Ghana took the lead through Mubarak Wakaso in the 13th minute and it seemed the Black Stars would coast in to the final to face Nigeria.
The Stallions though fought back and equalised on the hour mark through Aristide Bance to force the game in to extra-time and eventually a penalty shoot-out where the Burkinabe triumphed 3-2.
Ghana had 10 players in their 23-man squad that took part in last year's AFCON, so despite their relative inexperience made it through the group stages after coming out of a group containing Mali, DR Congo and Niger.
The Black Stars beat Cape Verde 2-0 in the quarter-final to set-up a date with Burkina Faso who were regarded as underdogs for this match.
Nevertheless, the Burkinabe held on to defeat the four-time AFCON winners and enter their first-ever final.
"I don't think it was a bad day. We played so well and we should know that this Black Stars team we came with young talented players and 11 players who have not been on this platform before," Panstil said in a post-match interview.
"At least to get them to this level, we came so far and I don't think the boys disgraced themselves. They did very well. I believe that in the next few years, they will grow up in football and get much experience and prove to the whole world they deserve to be in the national team."
Ghana faces Mali on Saturday in the AFCON bronze medal match, a replay of the 2012 match that Mali won 1-0.
