It's a nice concept. In particular, I really like the visuals which, while not strictly gameboy-ish, were effective in evoking the feeling of being lost in a vast forest.
I do feel like the horror potential gets hindered by showing the monster too much, though. At some point, it becomes more annoying than scary to wait for the grim reaper to leave so I can collect a gas can. An it stops being tense and starts to veer into goofy when a whole in the ground can have 17 grim reapers inside of it.
Solid work overall though, keep it up!