There are two formats in use by Flashpoint p3d files (3 dimensional picture) files. Either can be used by the engine.
MLOD is the format used by BI's released graphical editing tool Oxygen Light.
MLOD is converted to ODOL format by using BI's Binarize tool.
For further info see MLOD
a compressed representation of MLOD format used as the 'official' format for BI's models.
BI's Binarize converts MLOD to ODOL
There are two versions of ODOL
ODOL v7 for Flashpoint ODOL v40 for Arma
PMC tool ODOL Explorer will read ODOL v7 format and resave it (convert) back to MLOD for subsequent editing. In BX GateBuilder v0.0.2.4 is posible to open ODOL format, but save only to MLOD format.