GC questions

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I am Master degree holder (3 years of UG and 2 years of PG in regular university) and have 10 years of experience in IT. For the past 5 years I am with an Indian Company which sponsored my VISA and I am in L1 Blanket VISA,staying in US right now. My L1-B visa is valid till 12th April 2015 and I-94 valid till 26th May 2015. 


I have few questions on green card
1.Is it possible to file green card when I am in L1B itself? What is the category I am eligible for? 
2.If GC is filed in current L1B status istelf,will I be able to stay in US for more than 5 years(as extension) or should I go back to India after 5 years? 
3.Is it advisable to change to H1 first and then apply for GC? What do you suggest?  
Please let me know.
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