http://www.fsdeveloper.com/forum/threads/bgldec-a-resample-bgl-decompressor.433789/
A few notes if you are using it to get your source back - it's better than nothing, but it's not going to be nearly as high quality as the source.
1. It will most likely be slightly stretched / skewed based on the lat-lon of where it is located. This is part of the resampling process.
2. It will most likely by surrounded by some black "padding" pixels, so the image aligns to the FS QMID grid. This means it will not place at the exact same coordinates as your original image in-sim when run back through resample. I am working on writing new .inf files for this, not done yet.
3. The images are downsampled to 16-bit color (5.5.5.1) + an 8 bit blend alpha mask.
4. Water mask is not exported as a separate mask, except as a blue (0x000080) pixel in BMP. If you export as BIN you could sample it yourself from bit 15 in the 16-bit colors. Are you specifically talking about the water mask though? Most people are more interested in the blend mask, the water mask is just a single bit that enables some minor visual effects on top of the texture.
The good news is, if you run it back through resample, with a high-90s or 100 Compression Quality, WYSIWYG in the sim.
Since it sounds like you want to reuse the resampled water mask on a non-resampled source image, I'm afraid there might be a significant amount of post-processing that you will need to perform to get it to line up with your source. It may be easier to start over, unfortunately.