I really have trouble believing that this signing is a possibility. I have no concrete reason to believe that it's impossible, but at the same time the phrases "Jaromir Jagr" and "Edmonton Oiler" just don't seem to go together. All the same, let's take a look at what Jagr brought to the Rangers last season.
Jagr led the Rangers in ice-time this season, averaging 16:09 at even strength plus 4:09 on the power-play. At 5-on-5, he played the 3rd most difficult competition of all Rangers forwards. While he was on the ice the Rangers outscored their opposition 2.61 to 2.09. He also averaged 1.9 points per game at even strength.
On the powerplay, Jagr's team scored at a surprisingly low 5.24 goals per 60 minutes, and allowed 0.58 goals per game. That differential was 8th best among Rangers regulars. Jagr also produced points at a rate of 5.1/60 minutes of ice-time, something that marks him as a good but not great powerplay option.
Those numbers aren't spectacular- he's a forward who can contribute on the powerplay, and play well in a power-vs.-power matchup, but nothing extraordinary based on last years rates. He does, however, fit a team need nicely- a tough-minutes forward who scores at a nice clip, can play the power-play, and is a big-time shooter.
Jaromir Jagr, if available, is without doubt a player of interest to the Oilers. Just not at Hossa money.