Recent versions of Notepad will open it but you will see a little box for every non printable character.

A program to extract text from any file shouldn't be too difficult to write.

The logic would go something like...

open the file for binary read
open a file for text write
get a line of input
while not end of file
step through the input line by chracter
if it's a space write it to the text file
if it's >= ! and <= ~ write it to the text file
get another line of input