From the inlay ("Raging Beast" version):
You must make as many 'passes' as possible using only your red cloak. If you last long enough in the ring with the mighty bull Alfonso, a loop will be thrown from the crowd which you will have to place over the bull's head. If you succeed, you will see your name on the winners poster ... the glory will be yours. But ... you will have to re-enter the ring to face Alfonso again, and he will be even angrier. It is always possible that the bull fight will become a rodeo. Don't worry if this happens. You can become a real expert with some practice, and it is possible to ride on the bull's back for a long time accumulating bonus points in the process.
This appears to have been released with slight variants of the "Olé" name by Vifi International and Bug-Byte in various European territories, before being re-released under the name "Raging Beast" by Firebird.