RFE on L1

[Mirun]

I have applied for my L1 petition extension. My visa and i94 are getting expired by Nov 30. Today i got an email from USCIS saying they sent for RFE.What will happen now ? in case if they reject my petition, can i have time to reapply or suggest me wat should i do ?
Thanks

[orion]

Reply to the RFE within the time specified. Once denied, you are out of status immediately.