Powergrep regex replace with a list of words?

Question

I am trying to make this regex work, need to find every occurance of # character in a text, and replace every next occurance with different word, like: word1, word2, word3...tried this

(^.*#.*$)

replace with

(word1)
(word2)
(word3)

or

\1word1\2word2\3word3

it always replace it with all the words.