This is a very fun and challenging game. You get only 3 continues and can't earn any more than that. There is a beginner more where you take less damage, i recommend that to get used to the stages and enemies first before tackling normal mode. You don't get ranked or the credits at the end on beginner.

It plays mostly like a top-down shooter, but you're fighting fire. You have to types of spraying, top and down. There is small fire on the ground that can only be hit with the down spray and larger fire that can be hit safely from afar with the top spray. You can hold the R button to maintain the direction you're spraying in.
You also have a water bomb that functions as you'd expect. Like a bomb in any other shmup. Pretty important for bosses, especially the last 2. You can find bombs hidden in the levels. If you pick up a bomb while you have 3 bombs, you get a more powerful spray for your hose that lasts until you get hit.

Ocasionally, there are other types of hazards you must avoid by ducking such as explosions, fireballs, fire drafts etc. Ducking is also used to go under certain obstacles.

The game is on a time-limit for each stage. You're rated based on how much fire you cleared during the level, how much time is left on the clock and how many continues you used. If the time limit reaches 0, your health goes down to 1. Once you die, you get another few minutes(I think 3) when you continue.

Really great game, I enjoyed it a lot.