replace characters in string

Hi, I have a text file that contain list of folders in servers like this:

server1 c:\ora\oracel\

server2 d:\root\oracle\

server3 e:\Apps\LApps\oracle\

and so on, 

I need to change every line to:

\\server1\c$\ora\oracel\

\\server2\d$\root\oracle\

\\server3\e$\Apps\LApps\oracle\

I tried to do it with replace command but I can't get the the result.

I appreciate the help with this issue.

Thanks