A sailing boat with many people sails on water.
The boat might be in the water
The first sentence made it clear where the boat was, might be doesn't apply.
exists x1 x2 x3 x4 x5.(a_topic(x1) & with(x1,x3) & on(x3,x5) & n_water(x5) & Time(x3,x4) & n_sail(x4) & n_people(x3) & n_quantity(x3) & n_boat(x1) & of(x1,x2) & n_sailing(x2))
exists e1 p1 x1 x2.(n_water(x2) & n_boat(x1) & exists p2.in(x1,x2) & Topic(e1,p1) & Actor(e1,x1) & v_might(e1))