I can't help but feel you may be getting in way over your head, but I won't try to stop you. I would love to have an open source Outpost 2 remake, but it's not exactly an easy task. Keep in mind the original was made by professional programmers, who probably head years of education and experience, and it took them quite a while. I'm quite sure they weren't idiots. Plus having their livelihood depend on the game, I'm sure they had more incentive to work on it.
Btw, image extraction may not be as easy of a task as you'd like. There is the art viewer that can extract single images (there are a lot of them), but what about ripping out complete animation information? I'm not aware of any tools for that. _A_ was working on code that seemed to be able to at least mostly do it, but I think that person liked to keep things closed source. There is a VB project posted on the forums that parses most of the data structure, but it doesn't really support extracting. You'd probably have to write new code, and maybe use that as a guide.