Pettaway, who suffered his only professional loss via TKO against Russian bruiser Magomed Adbusalamov in March, 2012, fought four times last year as he picked up wins over a string of mediocre opponents in the US.
A meeting with the 1.92m Parker will be a step up in class given the 22-year-old from South Auckland is ranked 10th in the WBA and 12th in the WBO.
Pettaway isn't ranked by any of the four major sanctioning bodies and is pegged at 158th in the world by respected website Boxrec, while Parker is billed at No 24.
"I feel like I have everything to gain," Pettaway said. "He has everything to lose but I definitely feel like I can capitalise ... There are things I can capitalise on that I'm going to work on in camp."
Pettaway isn't a tall heavyweight at 1.85m, while he weighed in at 104kg when he lost to Adbusalamov, but he moves a lot in the ring and has a competent technique courtesy of his lengthy amateur career.
Many of Parker's previous opponents have been come-forward fighters who don't have the same level of footwork as Pettaway.
"Most of the time I'm a good mover and boxer," he said.
Parker and Pettaway, who will fight over 10 rounds with Parker's regional titles at stake, fronted the media in Auckland today and Parker will head to Las Vegas on Thursday to tackle another training camp with coach Kevin Barry.
After recently spending two-and-a-half weeks, including Christmas, in Samoa following his vicious fourth-round knockout of Brazil's Irineu Beato Costa Junior at last month's Fight for Life in Hamilton, Parker said he was keen to get back to work.
"The first week in camp will be about getting in better shape and then the rest of training camp will be learning the skills and techniques I will need for this upcoming fight," he said.
Meanwhile, Parker has inked a lucrative four-fight sponsorship deal with Burger King. Following the bout with Pettaway, which is the first fight under the agreement with the fast food outlet, Parker will travel to Austria in April to spar with heavyweight world champion Wladimir Klitschko.