Plo25 6max - is it ok to go broke on this flop?

[Pg9]

Poker Stars - Pot Limit Omaha Cash Game - $0.10/$0.25 Blinds - 6 Players - (LegoPoker Hand History Converter)

SB: $12.00
BB: $10.00
UTG: $11.90
MP: $31.90
CO: $21.30
Hero (BTN): $43.10

Preflop: Hero is dealt 9[img]/images/graemlins/diamond.gif[/img] Q[img]/images/graemlins/club.gif[/img] 9[img]/images/graemlins/spade.gif[/img] K[img]/images/graemlins/diamond.gif[/img] (6 Players)
UTG calls $0.25, MP calls $0.25, CO calls $0.25, <font color="red">Hero raises to $1.00</font>, 2 folds, UTG calls $0.75, MP folds, CO calls $0.75

Flop: ($3.60) 9[img]/images/graemlins/heart.gif[/img] 7[img]/images/graemlins/club.gif[/img] 5[img]/images/graemlins/spade.gif[/img] (3 Players)
UTG checks, <font color="red">CO bets $3.45</font>,Hero?

I guess my options are:
1. reraise pot, but then do I fold if he repots again?
2. call and fold if he pots and I don't fill up on the turn?

I guess the answer would be easy if it would be a full ring game, but I'm not sure about the 6max yet...