The oil and gas firm will acquire a 15% interest in Blocks 48/1a, 47/5b and 48/1c, which contain the Platypus gas field and the Possum gas prospect.
According to the company, the Platypus gas field has the potential to contain up to 180 billion cubic feet of gas in place.
The Possum structure is a Rotliegendes gas prospect, immediately adjacent to the Platypus gas field, with estimated resources of about 100 billion cubic feet of gas in place.
Parkmead executive chairman Tom Cross said the Platypus and Possum areas are a valuable addition to the company.
"We know the geotechnical aspects of these blocks intimately and believe they contain the potential for significant upside," Cross said.
