1st hand of Hendon Mob sattelite, tricky flop

[iStackBooks]

This is the first hand (obviously no reads) of a $24 satellite to the Hendon Mob Shootout Event #1 ($100+$9). There are 27 entrants, top 5 get tickets, 6-8 buy ins back. Anyway, thoughts on all streets are appreciated. Good chance I made the wrong decision here playing for stacks on the flop. I thought about flat calling the flop and reevaluating the turn but came to the conclusion that he is likely betting missed high cards and even if I call and am beat I have 8-10 outs (I was actually about 37% to win). How much should I factor in the fact that it is the first hand of a sattelite? I usually play to survive in satellites - very very tight early, double up if I run into a big hand, and tread water by being very aggressive late as the blinds go up. I feel like my game is way above average at this level and usually cash. Another big problem in this hand is had a really hard time interpreting his min raise.

I'm gonna free hand it because the converter I use is f'ing up.

30/60 blinds, 1st hand everyone at the table has 1500 chips. I'm in the bb with 77, it is folded to the button who calls. The sb min-raises to 60, I call 30, button calls 30. The flop is 456 rainbow, the sb (original raiser) leads for 120 into 120. Action is to me...