Lingman, in his early 40s, pleaded not guilty to murder and today told Auckland High Court he got deeper and deeper into drug dealing after his legitimate business stuttered.
"I did a couple of jobs in 2018 but I wasn't getting out of the hole I was already in."
He started pressing more ecstasy tablets and selling cocaine, he said.
"I didn't want to go bankrupt. I just wanted to dig myself out of the hole. You might say the easy way out."
Later, Lingman said a disaster involving MDMA in his kitchen led to some of that product being destroyed and Chance wanting $15,000.
Lingman then told the court Chance was going to South America to source more cocaine and needed somewhere to store his drugs.
The murder-accused said he felt obliged to agree, and Chance placed his products in a gun safe in Lingman's shed.
As 2019 dawned, demand for drugs was high but MDMA and cocaine supply was low, Lingman said.
He said he didn't know where Chance was.
Lingman told jurors he went to Britain, and on his return to New Zealand, went into the safe in the shed on February 23, opened it and saw cocaine inside.
"I got the master key. I seen some MDMA and some cocaine. There was about two kilos of MDMA and about 21 ounces of cocaine. I took the cocaine. All of it."
"I didn't know when Denver was back, so my intention was to flip it over really quickly, get the money ready for him."
Lingman said a "trusted client" received 12 ounces (340g) of cocaine, on credit.
Lingman told the court he kept the other nine ounces and didn't think the dozen ounces would cause problems with Chance, as long as he had the money.
But the court heard Lingman was at home the next day.
"I didn't expect to live if he got a shot off. It would have taken my head off," Lingman said.
"He called me a c**t. Like a sinister tone. He didn't scream it out at me or anything. I just raised the Ruger. I didn't really aim or anything and just started firing."
Lingman said a range of emotions surged through him afterwards - adrenaline, anxiety, shock, confusion.
"I sort of poked Denver with the end of the rifle to see if he was alive. I thought he was dead or incapacitated."
Lingman said he felt compelled to act normal afterwards, and he desperately wanted to get a drink.