Shaun - This is a picture I just took of our backyard fence. It was made with those panels you can get pre-made from HD that are stapled together. We treated it with Behr wood stain/sealer, using a garden sprayer that you usually spray bug spray with.
This was all done well over ten years ago, probably more like 15 or so. It works good.

Picture was shot looking through a screen that's why it looks crappy.