Access same SQLite database from 2 apps

I want to know if the following is possible. I want to create a new Settings App in Android and then another App as well. I want both to use the same database and I do not want to use a content provider.

So I want to know if it would be possible to do this by storing the database on an external SD card? Are there any risks in doing this and can I access the database on the external storage from the Settings App?

Edit: So the other App that I refer to will query a server and get data that will be used to change settings in Android, but this information will be stored in an SQLite database. Then I want the Settings App to access this information and update the various things, so I need to simply know if both this Settings App and the other application will be able to access the SQLite database on external storage without any problems, so that I can achieve what I require? Hope this is a little more clear?

Thanks, Wihan