A game remarkably similar to Lode Runner, you play an astronaut with limited oxygen (time) chased around by various space aliens. Your only method of dealing with these multicolored threats from space is to dig a hole, lure it into a hole and then manually fill up the hole with the alien in it. Dropping aliens on top of other aliens earns you extra points and eliminates both. Levels get progressively harder and enemies grow faster.
Where retro score attack games are concerned, Space Panic is not the greatest I've played. It is, however, a very enjoyable title that's worth a check for folks who dig old school "kill 'em all" style titles. If you've got fifteen or so minutes to kill and you'd like to spend it watching predatory vegetation from space slip through spacious cracks in the floor, then give the game a whirl.