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Mac as Jimmy said it will cut faster with slurry. In my experiment oil was giving better edge. try it and see what happens. first use with water then oil. gl

you can use it with water too but results are different. with oil is different animal.
you will get different results if you choose to use with slurry ,without it etc. gl

most likely cf. middle picture gives more information. Try use with oil. light pressure and 30-100 laps will be plenty enough. it does give to blade very smooth shave. great find. have fun and enjoy

will you please post picture in dry condition. your description is a charnley forest stone but picture a little miss leading.