1983 Olds Firenza

I have recently bought a 1983 Olds Firenza from a friend for 500$ CND

its got a 1000km on a new motor and theres not a spot of rust. The glass is perfect. Interiour was redone and has some stains of mud(?)

Stats:

-Red
-2 Door
-4 Cylinder (2.0L)
-A/C
-Rear and Front Defrost
-Heat (Major Importance because my current car has none and its -21 C here)
-Cruise
-Tilt
-PS
-PB

Problem:

Car turns over and starts and then after about 10 secs dies and will start again and run and then die after 10 secs... My neighbour said it could be the Ignition Modual. Or it could be that the Fuel Pump is weak...

Does this make any sense??