Yep!
You also mentioned you made a few sketches before settling on this composition, I would love to see them!
(Personal thoughts/criticisms on the piece follow)
The Octo Skaarl is the real problem wth your piece, the way he dominates the background and that... face, I would have rather seen a bit more the ship that is lurking in the top left, with more of the tentacles being shown wrapping around it/smashing it.
Keld himself looks GREAT, really nice looking. The only issues I have with him is the belt I feel would have been better if it were on top of his shirt, that way you could show more pouches/mushroom juice hooked onto it. It would sell it a bit better if his pants/boots looked wet he's riding a big slimy octo after all.