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Ritzy sez; It has been observed that water will basically"tunnel" or lay against the inner hull surface and readily travel when following the incline at stern.

Not so, according to Tom, the wet foam remains firmly attached to the hull, so water can't tunnel under or over the foam. I saw different when I pulled up a wet section of deck on my 15 footer. There was no foam attached to the wet underside of the deck.
Looks like Metan did the job a little different than Ritzy's explanation, but if you have the money, the manpower the vacuam bagging equipment and the know how you can do a successful job. Good luck
I would go for a few fish dinners myself.