Yeah, I don't know what he is talking about either. I have both the cheap Norton combo stone I mntioned and a IB8 india combo stone. The india is pretty much a shop standard, everybody has one. The blue SiC combo stone is a handy one too, hell for <$10 its a worth while stone to keep around, mine is fairly consistant grit size, stays relatively flat with normal knife use, and does a decent job.
But to address the OP's question, if it is a Norton, and labeled as an oil stone, then generally they are pre-oiled. Use dry or with a light oil of your choice. If you prefer water, boil it for a few minutes to remove the oil. Just place a wire rack in the bottom of the pot to keep it off the bottom.
-Xander