Can I get my H1B extended, if my clock did not reset after 1.5 years gap

L1B Visa was approved on 20th June 2007. Came to US on an assignment thru my company on Sept 2007 - Since then I have been in US in L1B till June 20th 2012 - thats about 4.9 Years (Short of 3 months to exhaust my L1-B)
I went back to India on 20th June-2012 and was told to apply for H1B from my company the same year for for 2013 quota. I got thru and my petition was approved and was valid from Oct-2013 - I got my H1 B Visa stamped in the month of Dec of 2013 and came to US on 14th Dec 2014.
With this - I was outside US for ~18 months (almost 1 Year 6 months).
When I got my H1-B petition, it was valid only for 1 Year (till 2th Dec 2014). When I enquired in my company, they told that my clock was not reset and they had considered my earlier 4.9 months stay in US and only gave the balance amount of months in H1B.

My Query is - Since I have a break of almost 1 and a half years outside US - am I eligible for H1B extension in US? OR the break will not be considered and my clock will never be reset?

For the clock to be reset H-1 should have been applied after staying outside of US for 1 year.

You left US in Jun 2012, and H-1 was filed in April 2013. So it will be consider as a stay < 1 year. Hence the clock was not reset.