Public Class Form1
 
    Dim x, y As Integer
    Private Sub Panel1_MouseDown(ByVal sender As Object, ByVal e As _
      System.Windows.Forms.MouseEventArgs) Handles Me.MouseDown
        x = MousePosition.X - Me.Location.X
        y = MousePosition.Y - Me.Location.Y
    End Sub
    Private Sub Panel1_MouseMove(ByVal sender As Object, ByVal e As _
      System.Windows.Forms.MouseEventArgs) Handles Me.MouseMove
        If e.Button = Windows.Forms.MouseButtons.Left Then
            Me.Location = New Point(MousePosition.X - x, MousePosition.Y - y)
        End If
    End Sub
 
    Private Sub Form1_Paint(ByVal sender As Object, ByVal e As _
      System.Windows.Forms.PaintEventArgs) Handles Me.Paint
          Dim path As New System.Drawing.Drawing2D.GraphicsPath
        path.AddEllipse(New Rectangle(0, 0, 205, 205))
        Me.Region = New Region(path)
    End Sub
 
End Class