olefile is a Python package to parse, read and write Microsoft OLE2 files (also called Structured Storage, Compound File Binary Format or Compound Document File Format), such as Microsoft Office 97-2003 documents, vbaProject.bin in MS Office 2007+ files, Image Composer and FlashPix files, Outlook messages, StickyNotes, several Microscopy file formats, McAfee antivirus quarantine files, etc.
ole-py is another parser for OLE files, with a lightweight implementation (not as complete as olefile). Its API might bring some ideas.
https://github.com/hallazzang/ole-py