Codenstuff.com

Dim dClick As Boolean
    Dim drag As Boolean
    Dim mousex As Integer
    Dim mousey As Integer

    Private Sub PictureBox1_MouseDown(ByVal sender As Object, ByVal e As System.Windows.Forms.MouseEventArgs) Handles PictureBox1.MouseDown
        If Not dClick = True Then Exit Sub
        drag = True
        mousex = Windows.Forms.Cursor.Position.X - PictureBox1.Left
        mousey = Windows.Forms.Cursor.Position.Y - PictureBox1.Top
    End Sub

    Private Sub PictureBox1_MouseMove(ByVal sender As Object, ByVal e As System.Windows.Forms.MouseEventArgs) Handles PictureBox1.MouseMove
        If drag Then
            PictureBox1.Top = Windows.Forms.Cursor.Position.Y - mousey
            PictureBox1.Left = Windows.Forms.Cursor.Position.X - mousex
        End If
    End Sub

    Private Sub PictureBox1_MouseUp(ByVal sender As Object, ByVal e As System.Windows.Forms.MouseEventArgs) Handles PictureBox1.MouseUp
        If dClick = True And drag = True Then
            drag = False
            dClick = False
        End If
    End Sub
    Private Sub PictureBox1_DoubleClick(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles PictureBox1.DoubleClick
        dClick = True
    End Sub

Public Class DragControls
    Public btf As Boolean = True
    Public button As MouseButtons = MouseButtons.Left
    Public drag As Boolean = True

    Private controlX As Control
    Private ptor As Point
    Private dragcursor As Boolean = True
    Private origCursor As Cursor
    Private state As Clicked
    Private Enum Clicked
        Up
        Down
    End Enum
    Sub SetCtrl(ByVal control As Control)
        controlX = control
        origCursor = controlX.Cursor
        AddHandler controlX.MouseDown, AddressOf MouseDoubleClick
        AddHandler controlX.MouseUp, AddressOf MouseUp
        AddHandler controlX.MouseMove, AddressOf MouseMove
    End Sub
    Private Sub MouseDown(ByVal sender As Object, ByVal e As MouseEventArgs)
        If drag Then
            If e.Button = button Then
                state = Clicked.Down
                ptor = e.Location
                If dragcursor Then
                    controlX.Cursor = Cursors.SizeAll
                End If
            End If
        End If
    End Sub
    Private Sub MouseUp(ByVal sender As Object, ByVal e As MouseEventArgs)
        state = Clicked.Up
        controlX.Cursor = origCursor
    End Sub
    Private Sub MouseMove(ByVal sender As Object, ByVal e As MouseEventArgs)
        If state = Clicked.Down Then
            Dim location As Point
            location = controlX.Parent.PointToClient(controlX.MousePosition)
            location.X -= ptor.X
            location.Y -= ptor.Y
            controlX.Location = location
            If btf Then
                controlX.BringToFront()
            End If
        End If
    End Sub
End Class

Dim dragger as new DragControls
dragger.SetCtrl(picturebox1)