Is it possible to get H1B petition transfer from company A to B?


I have my H1B sponsored by my present employer. I have H1B petiton ready with me from september 2012 but my project doesn’t have enough onsite opportunity as such. I am just waiting for 3 months and no idea how long i need to wait.They are not ready to send me for visa stamping also, until they find a relevant position.

In this case if i want to change the company, will my H1B petition valid in second company.?

Can my present employer revoke my petition and it becomes invalid in case I quit that company?