Edmonton radio (630 CHED) is reporting Dustin Penner's agent has said the player is now on the Oilers' reserve list, meaning he has been transferred from Anaheim awaiting the finalization of his contract.

This is the first time an offer sheet has not been matched under this CBA and the first in 10 years since the Flyers received Chris Gratton from Tampa Bay in 1997 for what was then a mammoth, five-year, $16.5-million contract offer.

Penner will make $21.5-million over the next five years in Edmonton, a cap hit of $4.3-million per season. The Ducks receive Edmonton's first-, second- and third-round picks from the 2008 entry draft.

2:40 p.m. EDT UPDATE Penner's agent Gerry Johannson is on Edmonton radio station CFRN right now.

I think today he's relieved. He's happy to have this over with because it's certainly flattering when you get an offer from the Oilers... you're part of a team that's making such a serious commitment as the Oilers are. But, obviously he loves Anaheim.

If I'm a general manager, I'm signing my good young free agents as soon as I can.

Johansson seems to think Penner will play on Edmonton's top line with Ales Hemsky. Apparently the Oilers brass sold Penner on playing in Edmonton by saying he would have a very significant role with the team.

UPDATE A chronological list of players who received offer sheets that weren't matched: Gary Nylund (1986), Scott Stevens (1990), Glen Featherstone (1991), Dave Thomlinson (1991), Brendan Shanahan (1991), Adam Graves (1991), Petr Nedved (1994), Mike Craig (1994), Steven Rice (1994), Shayne Corson (1995), Chris Gratton (1997) and Dustin Penner (2007).

Other than Penner, these contracts were offered under previous versions of the league's CBA, some of which involved an arbitrator determining compensation (which often involved players) for the team which decided not to match.

Hockey's Future has a great post on this here.

UPDATE Here's a thought: Anaheim's in a win-now situation, which may be the only drawback to relying on futures to make this deal make sense.

Even still, as people have noted both in the comments here and elsewhere, Ryan Getzlaf and Corey Perry have as much to do with this decision as anything. The salary structure in the NHL is shifting rapidly this off-season, with the youngsters cashing in, and those two are going to both be in the Penner-range on their new deals next season.

UPDATE I offered my opinion on Penner when the offer sheet was announced last week, and it remains the same. He's frankly just too one-dimensional to justify the expense.

UPDATE The Anaheim Ducks press release is here. Burke is expected to speak sometime after 6 p.m. EDT.

Here's Kevin Lowe: "I'm not in the business of making friends, I never have been and I never will be." The Oilers GM also says he will not be putting out any more RFA offer sheets.

Lowe says he hasn't spoken with Burke and called his previous comments "uncalled for." It honestly sounds like the friendship has been severed over this move.

UPDATE Penner about the expectations in Edmonton: "You can only worry about what you can control, not what the media says ... I have no reservations about not being able to succeed now. I think Edmonton is going to be right on board there to help me.

"The pressure that I receive from the media and fans won't be near the pressure I put on myself to be the best player I can be. I know myself I didn't think I peaked this year in Anaheim, and I don't know what my potential is, but I think over the next five years, I'll find out."