Santos has dismissed shareholder demands for an immediate end to its coal seam gas project in the Pilliga, saying they are being led by “extremist activist groups”.

Shareholders on Friday presented Santos with a resolution to be voted on at the company’s annual general meeting in May, warning of “ongoing reputational, regulatory and investment risks” associated with its Narrabri Gas Project in northern NSW.

Pilliga. Credit:Jacky Ghossein

“The Narrabri coal seam gas project presents too many risks to that brand and to investors’ confidence in our company’s portfolio,” the resolution said, adding it also “threatens Santos's reputation and makes our company look like a rogue operator”.

The shareholder resolution follows revelations by Fairfax Media last week that leaking waste water from a Santos site had raised uranium levels in groundwater to 20 times safe drinking standards. Santos, which was fined $1500 by the NSW Environment Protection Authority, said its testing showed the contamination was limited in scope and would not affect aquifers tapped for humans or livestock use in the area.