CARL Fogarty is targeting an amazing return to racing within a month of his dramatic crash in Australia.

In his first interview since the 140mph fall, which knocked him out for 15 minutes and broke his left arm in three places, Fogarty revealed he had not ruled out racing at Monza on May 21.

"I'm just thankful it's not a bad injury.

"I haven't been told how long it is going to take.

"But it doesn't look too promising for Donington.

"So we'll have to look towards the next one unless I'm told yeah or nay by anybody else.

"I just have to assume that I'll be all right to race again. But I've not really thought about the championship, to be honest," he said today from his hospital bed in Melbourne.

Surgeons have pinned his arm back together with seven screws and a titanium plate.

The World Superbikes champion still cannot remember the incident with Austrian rider Robert Ulm on lap five of the second race at Phillip Island.

He added: "I don't remember a single thing. I have completely lost my memory. "I remember starting the second race and getting a bad start but I don't remember the crash.

"The first thing I remember was getting in a helicopter and I couldn't understand why.

"I haven't seen a video of it but I've been told that someone's bike in front cut out. Ducati are trying to get the information off that bike to prove that it cut out."

Australian rider Troy Bayliss, currently riding in the American domestic championship, has been given Fogarty's ride for the next two rounds at Sugo and Donington.

And the Blackburn-based rider has received a word of advice from title rival Colin Edwards.

The Texan, who is second in the current championship standings, said: "When something like that happens at this stage in your life you have to look around and think seriously about whether it's worth racing again.

"He's got nothing left to prove in superbikes and he has to bear that in mind.

"I know that if I was Carl I would just call it all off, play some golf and count my money.

"At the end of it all he can still walk and talk -- the rest will heal in time."