Solomon Cook built the Chance on the Kalgan River at Albany; he completed the schooner on 5 July 1842. It was said to be an excellent sea boat. Thomas Sherratt, the owner of the Chance, used it as a tender for his bay whaling and sealing venture.
In 1843 the Chance went to Lombok to purchase supplies (mainly rice) for use by the whaling parties. When it returned in April that year, a north-easterly gale caused the anchor to drag while in Koombana Bay. The master, Captain Johnson Hume, steered for the mouth of the Leschenault Inlet and the schooner passed over the bar, striking twice. It then ran aground inside the inlet.
After unloading the cargo of rice and selling the damaged portion, the schooner was refloated on 19 April. The undamaged rice was reloaded and the Chance sailed for Albany.