Oilers probably protect something along the lines of:
RNH, Draisaitl, Eberle, Lucic, Maroon, Pitlick, Slepyshev/Kassian/Letestu
Klefbom, Larsson, Sekera
Talbot
which leaves 2 of Slepyshev, Kassian, and Letestu unprotected, as well as Pouliot, Davidson, Brossoit, and others.
Vegas likely takes Davidson. I'd offer something to get them to take Fayne or Pouliot instead. They wouldn't want Fayne. But I'd offer a bit for them to take Pouliot. Also, Russell is a UFA and I'd make an agreement with him to sign him after the expansion draft so we don't have to protect him, and get him to commit to signing with Edmonton.