Our perannially DRY ground conditions make any sort of electric fencing not feasible. For perimeter fencing I have 42" field fence, w/ two 'barbless' strands above. For my runs/large dry lot, we used 12', 5 bar, steel welded panels, but if building them now, would use 7 bar, spaced so that even minis won't put their head through...perfect for both large AND small equines! We set round wooden posts, tied the panels to them in the runs; the large paddock is 'semi' round, so the panels can be 'freestanding' on the circular part, and are tied to round wood posts at each end and in the 'straight' areas. Has worked for MANY years.We 'lined' the original 5 bar panels w/ welded 2x4" wire to keep heads in and all but determined intruders out; though we have coyotes nearby, have never had an issue(but have never left horses outside of their runs/large paddock at nights, either!)
Given a choice, I'd probably use 5' over 4' rolls of woven wire fencing.
Margo