DLLs in a shared directory

Given the limited storage space on a phone, is it possible for support DLLs, such as Outlook.dll, to go into a shared directory, rather than each application having its own copy of the DLLs? After all, this is what is done with standard Windows DLLs by programs in other languages. Or, does Basic4PPC require that a DLL always be in the same location as the EXE that is calling it?

I haven't tried it but you can probably create a config file that tells the .Net Framework where to look for the library: <probing> Element
However, as most libraries are merged in the executable and the other libraries are pretty small (<20 kb) I don't think it is worth dealing with it.