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Source: Edmonton Oilers trade Smyth to Islanders for prospects and picks

A source confirmed the deal to The Canadian Press. The Oilers received prospects Robert Nilsson and Ryan O’Marra and a first-round draft pick in 2007 in exchange for Smyth.

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Smyth is making US$3.5 million this season and is due to become an unrestricted free agent July 1.