Top 2 on a scary board against a min raise

[GooperMC]

Game #2450318773: Omaha H/L PL (€1/€2) - 2006/09/13 - 19:07:55 (ET)
Table "Tantan" Seat 8 is the button.
Seat 4: chaser39 (€230.25 in chips)
Seat 5: TurtlSoup (€174.25 in chips)
Seat 6: Serg26058 (€50 in chips)
Seat 8: ___BAY___ (€140.75 in chips)
chaser39: posts small blind €1
TurtlSoup: posts big blind €2
Serg26058: posts big blind €2

----- HOLE CARDS -----
dealt to TurtlSoup
Serg26058: checks
___BAY___: calls €2
chaser39: calls €1
TurtlSoup: raises to €10
Serg26058: folds
___BAY___: calls €8
chaser39: folds

----- FLOP -----
TurtlSoup: bets €24
___BAY___: raises to €48
TurtlSoup: ????

___BAY___ is a reasonable TA player; however he is usually too tight when he plays SHed and he plays pretty straight forward. I have seen him min raise one time before and that was in a similar situation to test his non nut hand.

What is your line for the rest of this hand and how much faith do you put into the 1 time read?