Welcome to Iboats Bob..
If you sand down your teak.. I would apply as much oil as it wants to drink up ( 2 coats a day untill it stops drinking ).
There is no real answer to how many coats ( I have some teak that would almost sink because its so rich in oil ).
In the elements I would take 30 mins every few weeks and wipe on a light coat of teak oil..
YD.