A B737-300 PILOT REPORTS ON FINDING THE RIGHT AIR CONDITIONING ACCESS PANEL NEAR THE RIGHT MAIN WHEEL WELL HANGING OPEN.

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DURING PREFLT OPS ON FLT FROM ZZZ; WE DISCOVERED THE R AIR CONDITIONING ACCESS PANEL NEAR THE R MAIN WHEEL WELL HANGING OPEN. WE IMMEDIATELY CALLED MAINT. THE DOOR WAS HINGED ON ONE SIDE AND HAD 4 FASTENER HOLES ON THE OTHER SIDE. WE DISCOVERED 1 FASTENER LYING ON THE PAVEMENT. THE OTHER 3 FASTENERS WERE NEVER INSTALLED FOLLOWING MAINT AND ACFT REPAINTING. IT WAS EVIDENT BY THE PAINT OVERSPRAY THAT ONLY THE TRAILING EDGE FASTENER HAD BEEN INSTALLED; NOT THE OTHER 3 FASTENERS. UPON INSPECTING THE ADJACENT PANEL; IT WAS APPARENT THAT OTHER FASTENERS WERE NOT INSTALLED PROPERLY EITHER (MISSING OR LOOSE FASTENERS). THE CAPT; FO; AND MAINT MAN INSPECTED EVERY PANEL WHICH WAS VISIBLE TO ENSURE ALL OTHER PANELS AND FASTENERS WERE SECURE. THE MAINT MAN INSTALLED FASTENERS WHERE FASTENERS WERE MISSING AND TIGHTENED EXISTING LOOSE FASTENERS BEFORE MAKING THE MAINT LOGBOOK ENTRY. THE R AIR CONDITIONING ACCESS DOOR WOULD HAVE LIKELY BEEN DAMAGED OR TORN OFF THE ACFT IF IT HAD COME OPEN DURING FLT RESULTING IN 'THINGS FALLING OFF ACFT' IT APPEARED THAT EVERYTHING ON THE ACFT HAD BEEN REPAINTED; BUT THE ELEVATOR SURFACE HAD NOT BEEN PAINTED. WHEN AN ACFT HAS BEEN TAKEN OUT OF FLYING STATUS FOR MAINT AND/OR REPAINT; ALL PANELS NEED TO BE INSPECTED FOR PROPER SECURITY PRIOR TO BEING RETURNED TO FLYING STATUS.