7th round pick
Marc Pouliot - former 1st round pick in '03, he played really well for the Oilers in '06-'07, scoring 10 points in 40 games, but is now likely considered expendable because of the depth of the Oilers' forwards. He'll likely see time on the 4th line this year if he stays with the Oilers, and he recently signed a 2-year/1-way contract, meaning Lowe might have told him that he would find him a place to play if not with the Oilers
Dwayne Roloson - he's one of the most experienced goaltenders and vocal leaders. Plus he's a solid backup as well, with a 0.901 or better SV% since coming to Edmonton 3 years ago (despite the Oilers playing 0.500 hockey parts of the last two seasons). The main reason Montreal would want him is to have insurance in net behind Price. While Halak and Price are both solid goaltenders with lots of potential, I think Gainey wants someone who has been to the finals before (2 years ago) in case Price struggles in the Habs' 100th year. Roloson is also a UFA in '09, so the Habs can let him walk away and have more money to resign Tanguay, Kovalev, Koivu, etc.
Jean-Francois Jacques - he's a big, rugged PF who was also drafted in '03, who has been very good in the AHL (close to a PPG the last few seasons), but has really struggled to find his game with the Oilers. He also put up pretty good numbers when he played for the Hamilton Bulldogs in '05-'06 (the Habs' farm team), with some of the young players who are now with the Canadiens. Even though he's a bit of a reclaimation project, the main reason Montreal would be interested in him is because he is a bulking power forward who has had success at the AHL level.
Jaroslav Halak - he's a very good young goaltender, who put up some of the best numbers in the AHL last season. Nonetheless, it's clear that Price is the future goaltender for the Habs, and chances are that Halak will only play about 30 games total this season and spend the rest of the season as the backup. The reason the Oilers would want him is that they are still a young team with depth at every position, except goaltending. Garon and Roloson are both former backups who have yet to prove they can carry a team for a whole season (Garon looked great last season and many Oiler fans want him to sign an extension, but I can't help but be reminded of how the same thing happened to Roloson: signed to an extension after an incredible cup run, but then had an average season the next year), and both will become UFAs in '09. Dubnyk and Deslauries are both unproven, but by the looks of it, both will become backup NHL goaltenders (despite Dubnyk being drafted in the 1st round). Another important factor to consider is that Halak resigned with the Habs (even after there were rumors that he wanted to return to Europe/Russia) to a two-year contract, despite knowing that he'd be Price's backup and only play a handful of games a season. This makes me think that Gainey might have promised him that he would try and trade him at some point during the season so that he gets more playing time. In addition, during last year's trade deadline, Gainey talked about how the Habs added to the two best players from the AHL (Grabovski and Halak), and made it seem as if neither of them would be traded in the near future. However, Grabovski was traded only a short time later in July, making it seem as if Halak might not be untouchable either. Halak is able to split the duties with Garon for this season in Edmonton, and then become the starter next season.
Mathieu Dandenault - From the Habs' perspective, this is simply a salary dump. Dandenault is a great locker room guy, but there's simply no room for his 1.75 million dollar salary, especially if the Habs take on Roloson's 3 million dollar salary. He's been on the block for a while now, with recent reports that Gainey had all but traded him to the Rangers last season at the deadline. In Edmonton, Dandenault is able to replace Pouliot on the 4th line, as well as serve as a defenseman if there are injuries on the blueline. He's also a UFA in '09, so the Oilers are able to let him walk away and spend money resigning Cole, Grebeshkov, etc.
7th Round Pick - This is only so that there are an equal number of bodies going both ways.
In the end, the Oilers recieve Halak, who will undoubted be traded at some point during the next two seasons. Like I said, the very fact that he signed a two-year contract extension, knowing full well that he'd be the backup, makes me think that perhaps Gainey has promised him the opportunity to play somewhere else as the #1, if not in Montreal. Halak has a lot of potential, but not a lot of value. Take for example Bryzgalov, who is a very similar player to Halak in terms of experience and performance, who had to placed on waivers because there were no takers for him. The same goes for Montoya, a blue chip prospect heralded to be a fine #1 goaltender some day, who was traded to PHX along with average roster players (Marcel Hossa I believe), for another equally average roster player (Sjostrom). Other comparables are Emery (young goaltender who led his team to the SCF only one season ago, but couldn't find a job in the NHL this season) and Huet (an all-star goalie who was available for a 2nd round pick at the trade deadline).