The 30 year old American bagged 26 goals, 16 assists and 42 points in 61 regular season games before adding a goal and an assist in the club's three game playoff run - which saw them reach a landmark first ever Playoff Semi-Final and Final Four weekend.
A former ECHLer of 126 games and 62 points and CHLer of 60 games and 47 points, Osman joined the club a year ago from ECHL side Toledo Walleye - where he recorded 10 goals and 15 assists in 56 games alongside fellow EIHLers Adam Keefe and Dave Phillips.
For a team that is understandably more accustomed to signings from the CHL than ECHL, the Michigan native was seen as a big addition to the Rays roster at the time and one that would play a key role in the year to come providing secondary scoring behind former teammate Jereme Tendler.
However, it is believed a slow start to his first campaign in the UK came close to costing the 6ft forward his place of the roster part-way through last season. With Kurtis Dulle brought in from retirement to shore up a leaky defence, the Rays were carrying one too many imports and were forced to make a cut due to finances.
Following early season disappointment Osman and Frantisek Bakrlik were made favourites to be released after failing to hit the twine as expected and after player-coach Sylvain Cloutier's revelation that a forward would have to make way for the club captain and defenceman.
A perfectly timed up-turn in form from Osman in late October through to November though saw Bakrlik released in late November to join Coventry and later Fife.
The decision to retain Osman turned out to be a master stroke by Cloutier as the speedy Michigan native - who once netted 14 goals in 15 games with the Kalamazoo Wings of the IHL - became a favourite with the fans and went on to hit 26 goals for the Rays, despite the slow start.
Given the rate of improvement in the American's game from the start to the end of the last campaign - including that particularly fruitful purple patch during October - it is hoped Osman will again lift his game next season and continue to provide the Rays with much needed secondary scoring.
Of his fifth and more than likely final re-signing Cloutier said:
"I'm pleased to have Ozzy back, I will be counting on him to bring some offence and physical play on the forecheck using his speedy. Ozzy has one of the quickest releases around so there is no reason for him not to put up big numbers this season. He will be a key player to how much success we will have this season. Like I said before it's nice to have guys that stay loyal to the club, those are the guys you want on your team. I am really looking forward to see what Ozzy can do this season, I expect a lot from him."While their scoring threat pales into insignificance on paper in comparison to some EIHL sides, the Rays now have four genuine scoring options signed up for 12/13.
Jereme Tendler is naturally again the main goalscoring threat with 82 goals in 105 games for the club at Elite League level, meanwhile Jason Silverthorn can boast a 30 goal season in 11/12 and 128 goals in 275 EIHL games - though is perhaps more accustomed to creating goals.
In addition to Cloutier's high hopes of Osman next season, the signature of Janis Ozolins - last season's top second tier English Premier League top goalscorer with an impressive 55 goals in 52 games - gives the Rays a number of strings to their offensive bow.
Whether they further add to their scoring brunt remains to be seen, though NCAA graduate Colin McIntosh is almost certain to become the sixth and final import forward signing of the summer.
