Mongolia-focused explorer Petro Matad has firmed up a drilling contract with Sinopec Mongolia as it prepares to drill two wells. Petro Matad confirmed Wednesday a drilling contract had been signed with Sinopec after it was announced as the winner of a tender earlier this year. The company has also firmed up its drill targets, with the first well to be on the Irves prospect in Block 5 which is expected to spud (start initial drilling) in September.