Redden for Cogliano in the works?

According to an online French website, hosting a live-draft blog, the Edmonton Oilers and Ottawa Senators finalized a deal about an hour ago that would send defenceman Wade Redden to Edmonton for top Canadian prospect that many of you of know very well thanks to international junior play, Andrew Cogliano and a roster player.

Fanatique.ca's live blog reports that the deal is in place as of 12:10 PM and that it should be announced very soon.

"(23h07) Après une première ronde sans échange majeur, les discussions sont plus qu'intenses entre les directeurs-généraux de la ligue. Wade Redden pourrait quitter Ottawa pour Edmonton en retour d'Andrew Cogliano et d'un joueur. "

I'm still wondering how credible this website is.

It seems like a valued site with lots of interesting information, but I wonder...

If this were true, then the Oilers would be paying a hefty price to acquire a seemingly overrated defenceman, who has lost nearly all of his offensive prowess he showed during the 2005-2006 campaign.
Last season, he was inconsistent and often injured, and managed to have his worst season since 2001-2002, when he scored only 34 points.

His +/- rating difference equalled his 2001-2002 points total, dropping a whopping 34 points (from +35 to +1) while his powerplay numbers suffered and fell 11 points from last season.

I guess Kevin Lowe really is desperate for a solid defenceman, even if it is Wade Redden, to offer up one of his brightest young lights.

The same site confirms speculation that the Sharks would acquire the rights to Chris Drury, re-sign him and trade Patrick Marleau to the Canadiens.

Anyone have any info to share, regarding the site's credibility?

Stay tuned folks...