The only stones that you would use water on will be clearly sold as water stones. I use kerosene on my stones, like Wampus. To be honest, I've tried just about every stone type imaginable, and I just can't seem to beat a cheap EZ Lap diamond stone for speed or reliability, and it doesn't need any oil or water.. I use a fine grit EZ Lap stone and then strop on leather loaded with green rouge most of the time. I have had pretty good luck with a Norton Fine India stone followed by a hard Arkansas stone, but it takes me a lot longer.