Published analyses of well tests in gas/condensate reservoirs at pressures below dewpoint pressure usually are based on a two-zone radial composite model. Laboratory experiments and numerical simulations suggest that three different mobility zones could exist: (1) an outer zone away from the well with initial liquid condensate saturation, (2) a zone nearer the well with increased condensate saturation and lower gas mobility, and (3) a zone in the immediate vicinity of the well with increased gas relative permeability. The full-length paper investigates the existence of the third zone in well-test data and discusses an example of well-test analysis that illustrates the difficulty of identifying such a zone.