You need to pan the picture I guess ?
using the MouseDown event, log the current X, Y position of the mouse and then while in the MouseMove event, take the current X, Y mouse position and create an offset value with the current location of the image and repaint it at that position.
Basically, you are offsetting your image via the amount of offset from where you first initially logged the mouse in the mouse down and where you are now when the mouse move event occurs.
also, make sure you test for the mouse button being down.
The TPoint Class has members in it to help do the math.