i just put a new motor in my ranger (00), ive been busy and the project took me a year to do. but now when i was all fired up to start it it wont turn over and the theft light blinks very fast. i waited till it throws the code and i have a    Blink, pause, blink blink. so i believe that is a 1:2 but i couldent find info on it anywhere,

couple notes:

all i did is install i new short block. everything is the same.
just installed a new battery
used the same key
all fuses are good

   any thoughts?

try this, let it hooked up to the battery overnight, about 24 hrs, if the PCM was disconnected for a year, it needs to relearn it's memory, I had a situation w/ a 01 escape, in which i replaced the PCM, and thats what happened, its just a guess for your case, worth a try.

Im a ford tech, it sounds like the keys lost their programming. you will need 2 keys and have them programmed. I think some locksmiths can do it cheaper than having it towed to a dealer.

Does it crank and not start or no crank at all. With an unrecognized key it should crank start and die. If it starts and dies I think the ford dealer will have to use a [NGS] an old ford scanner to get the ranger to recognize the keys . There is a collar around the ignition switch that excites a chip in the key and recognizes it's signal back . if it dont crank it is somthing else [ I was a ford tech from 93 to 02][back in the olden days]

Fords will not crank at all if there is a PATS problem.

yea its deffanitly a PATS issue, im calling a few lock smiths today to see if they can program me some new keys. thanks.