Thank you hj and jimbo. When I installed the valve I threw away the tag that had the valve model number and other pertinent information. I went back to the store where I got the valve to see what information was available on that tag. Beside the model number the tag included a statement that the valve can be used for water, oil, and air. I confirmed this information on the manufacturer's website. So my self induced "crisis" is over, but I still don't understand the LP statement on the handle especially in view of the fact that usage with gas or liquid gas is not mentioned, but as you guys said WOG stands for water, oil, and gas. It was/is a bit confusing to me as well as to the store personnel when I asked them about the statement on the handle. But ultimately all is well that ends well...