Update to Frank's script: if I look at what PSTL fixed asset modifier does when changing an asset ID, there are a few more tables than what Frank had identified. the problem is that there are some tables where we must change data in columns NOT called ASSETID.
update FA00100 set ASSETID = 'FENCE-0001'where ASSETID = 'FENCE.0001'
update FA00700 set ASSETID = 'FENCE-0001' where ASSETID = 'FENCE.0001'
update FA00701 set ASSETID = 'FENCE-0001' where ASSETID = 'FENCE.0001'
update FA00800 set ASSETID = 'FENCE-0001' where ASSETID = 'FENCE.0001'
update FA00801 set ASSETID = 'FENCE-0001' where ASSETID = 'FENCE.0001'
update FA01002 set ASSETID = 'FENCE-0001' where ASSETID = 'FENCE.0001'
update FA01100 set ASSETID = 'FENCE-0001' where ASSETID = 'FENCE.0001'
update FA01300 set ASSETID = 'FENCE-0001' where ASSETID = 'FENCE.0001'
update FA10200 set ASSETID = 'FENCE-0001' where ASSETID = 'FENCE.0001'
update FA00800 set FROMASSETID = 'FENCE-0001' where FROMASSETID = 'FENCE.0001'
update FA00801 set FROMASSETID = 'FENCE-0001' where FROMASSETID = 'FENCE.0001'
update FA00800 set TOASSETID = 'FENCE-0001' where TOASSETID = 'FENCE.0001'
update FA00801 set TOASSETID = 'FENCE-0001' where TOASSETID = 'FENCE.0001'
update FA00800 set From-Master-Asset-ID = 'FENCE-0001' where From-Master-Asset-ID = 'FENCE.0001'
update FA00801 set From-Master-Asset-ID = 'FENCE-0001' where From-Master-Asset-ID = 'FENCE.0001'
update FA00800 set To-Master-Asset-ID = 'FENCE-0001' where To-Master-Asset-ID = 'FENCE.0001'
update FA00801 set To-Master-Asset-ID = 'FENCE-0001' where To-Master-Asset-ID = 'FENCE.0001'
update FA41700 set EVENTDSC = replace(EVENTDSC, 'ID: FENCE.0001/', 'ID: FENCE-0001/')