Can i apply for L1 to H1B Visa in USA , if i got there with H4 Visa

Hi.

Currently i am having L1B Visa valid till 2016 from company A. i have been to USA for 2 months and having SSN and Bank Account.There is No Onsite Trips now.

My wife is having H1B and she will be traverlling in Oct and i will get H4 Visa

If i tranvel to USA with H4 VISA, Can i apply for Converting my L1B Visa --> H1B Visa in USA. so that i can work . DO I NEED TO WAIT for the LUCKY DRAW for convertion ??? or just apply for L1B --> H1B . will there be seperate process.
or
can i apply for JOB in my current company A, since i am having L1B visa from them.
Please suggest.