There are few racing liveries as famous as the blue and orange Gulf Oil paint scheme. It was the Ford GT40 that brought it fame, thanks to its 1968 and 1969 Le Mans 24 Hours victories. Hard to believe it's been 50 years since the last victory, but now is definitely the time to celebrate and commemorate that. Presenting the Gulf Mustang Heritage Edition, build by Tennessee-based Brown Lee Performance.

Set to make its premiere later this weekend at Pebble Beach, this stunning blue and orange Mustang is not a one-off, but rather 119 units are planned. However, each one will cost $139,995. And yes, they are based on the 2020 Mustang GT. Not exactly cheap, we know, so what does one get for all of this retro-inspired goodness?

For starters, Brown Lee Performance claims this Gulf Heritage Mustang was made through a license agreement with Gulf Oil, so it's bona fide. The livery itself is the closest replica to those '68 and '69 GT40s as you'll ever find elsewhere. While the body looks incredible, we think a set of 20-inch orange rims, instead of what was ultimately chosen, would have been icing on the cake. Just our opinion. Anyway, under the hood is Ford's highly regarded 5.0-liter V8 that's been supercharged to produce a grand total of 808 horsepower and 667 lb-ft of torque. All of that power is fed directly to the rear wheels through either the familiar 10-speed automatic or six-speed manual transmission. Buyers can also choose from either a coupe or convertible.

Along with the performance upgrades, the Mustang has been given a completely new performance suspension, carbon fiber front splitter, rear diffuser, and wicker bill spoiler. The interior is decked out with Gulf orange and blue accents against a full black leather and Alcantara cabin. Each vehicle has special serial number plaques on the dashboard and engine bay.

As for performance, Brown Lee Performance claims a 0-60 mph time of just 3.3 seconds and a quarter-mile sprint of 10.7 seconds at 132 mph. "We are incredibly proud to have this opportunity to honor the Ford and Gulf racing legacy in such a special build." said Global Specialty Vehicle Manager of Brown Lee Performance, Brock Patterson. "With over 800 horsepower carrying this licensed icon from 0-60 mph in under 3.5 seconds, the Gulf Heritage Edition Mustang pays homage to the accomplishments of the Ford and Gulf racing teams from 50 years ago, on all levels."

All Gulf Heritage Edition Mustangs will come with a 3-year/36,000-mile warranty, and the world will one for the first time live this coming Sunday at Pebble Beach.