I believe that Cotabato used to be a large area covering the southern part of the island of Mindanao - where the Ubo, Tasaday, Bila-an, Tiruray, T'boli, and Magindanao peoples mostly live. Today, this area has been divided into the the provinces of North Cotabato, Sultan Kudarat, Sarangani, South Cotabato, and Maguindanao. My guess, is that the "Cotabato" referred to is the one today known as Maguindanao Province - home of the Maguindanao people. This area lies south of Lanao del Sur (home of the Maranao). The Panabas could have been present among the Maguindanao and Maranao, because of close proximity.
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