Cap rail leaks

We have some leaking going on in our cap rail. It is confined to one area and could be in several places.

So once again we need to re-caulk this area. It could have been many different factors causing the leaks.

   The are was not prepped well enough.

    We did not use the multitool on this area

   Could have been still wet when we applied the caulking

   The product we used

  Could just be that it is a crap shoot and we lost on this spot

This is the stern area 

This is the forward area, up to the scupper

The four bolts are the ones holding the port rear cleat in and you can clearly see some old and new leaking there. There may also be some by the rear stanchion bolts.

Piece of removed caulking

We removed the cleat (furler cleat) and tried to remove winch but it is cemented in place.
We removed the caulking and used the multitool to dig out the old rotten wood and mud etc
We then remove all varnish that was by the caulking. The sanded and sanded it clean.
Now we are waiting for it to dry out and then we will caulk with 3M 40000 UV.