I got my first H1B in on 8/18/2005. Based on this date, I would complete my 5 years on H1B on 8/17/2010. I just got a job offer from a new employer who is willing to file PERM. I am a British Citizen and born in Hong Kong.

1. How critical is that the PERM must be filed before the end of the 5th year on H1B?

2. Advertising for PERM should be between 2-3 months. Given that I start working for the new employer on 6/14, there will be only two months left to complete all required paper work and advertisement before the end of my 5th year on H1B (8/17/2010). Under these circumstances, should I accept the offer or stay with current employer and re-file PERM? Current employer filed for PERM 6 months ago, which got denied recently. What are the right Qs to ask to new employer's attorney?