There are many 'old timers' who will talk about 'oiling' their skins to keep them supple. Various oils have been used, such as neatsfoot oil and ultra refined olive oil. The problem encountered using oils is that they generate heat as they dry.
Whatever short term regeneration of the skin is soon undone as the oiled skin soon dries out and will then split.
I know that others have opinions about oiling skins, but from my experience I would advise you to use the heads in the condition that they are now found. If the dried out snare head is intact it might probably still be OK for use on the snare bottom side. Your continued use of the heads is dependent on how you intend to use them - if you want to use them in performance you have to be aware that they eventually will age past their useful life. To merely reassemble a vintage drum for display you shouldn't have any problems so long as you handle them with care.