Reserva Natural Estancia San Lorenzo is a sheep ranch open for tourism on the Peninsula Valdes. It's home to the largest penguin colony on the peninsula, home to 600,000 penguins each season.
To view their penguin colony you have to book a tour with the estancia as this is on private property. The tour is very much worth the time and money (not just because you'll see hundreds of penguins) but for the informative guides.
You'll meet at the estancia's main building where you'll leave your car. Everyone rides together in a 4x4 truck (pictured above) to the penguin colony. Once there your guide will tell you everything you ever wanted to know about penguins. You'll spend just over an hour - give or take - with the penguins. Walking paths are strictly and clearly marked.
The entire experience takes around 2.5 hours, leaving you the rest of the day to explore the peninsula.
When to go: Penguins return to their nests here each September and remain until the following April. In January you'll see fuzzy baby penguins.
Book lunch: The restaurant serves some of the best Patagonian lamb in the region, reserve a table at their restaurant after your penguin tour for the complete experience.