Oilers get their hands on Penner.

Time is up in the Dustin Penner bid between the Anaheim Ducks and the Edmonton Oilers. The Ducks did not equal the Oilers' offer made to Dustin Penner last week and will receive a 1st, 2nd and 3rd round pick as a compensation.

Dustin Penner is now officially a member of the Edmonton Oilers for the next 4 years. The value of the contract is evaluated at $21.25 Millions. A big pay raise if we consider the $425 000 he was getting last season. Penner, 25 years old, scored 29 goals last season.

The Oilers have been very active in the free agent department this summer. Before Penner, the Oilers acquired Sheldon Souray in a 5 year/$27 Millions contract. The Oilers also tried to acquire Thomas Vanek from the Buffalo Sabres but the Sabres equaled the offer made to Vanek.