Agree, let the timber dry out, palings are wet when new, give it a few months they will be bone dry, then do whatever you want. I would consider a outdoor stain over a paint, Intergrain Natural Stain is a great product for achieving a really nice finish on rough sawn TP. The fence is 8 months old, treated pine fencing with treatedpine rails and red gum posts. It is raw timber, never painted before. Only painting one side, the inside. IF the fence was being built, paint the palings first and then put them on, but thats not an option when its already in place. If a gate is part of your fence area, this can generally be finished in the same paint or stain as the rest of the fence depending on the gate's style and material. Preparation Resene Timber and Deck Wash (see Data Sheet D813) is recommended for washing all exterior timber surfaces prior to painting or staining. For new timber, ensure surface is dry and free from dirt, dust and loose fibres.