No low, maybe my trips are good, maybe not.

Poker Stars
Pot Limit Omaha Ring game
Blinds: $0.10/$0.25
8 players


Stack sizes:
UTG: $12.10
UTG+1: $8.15
MP1: $19.20
MP2: $27.70
CO: $15
Button: $15.35
SB: $12.45
Hero: $21.75

Pre-flop: (8 players) Hero is BB with
3 folds, MP2 calls, CO (poster) checks, Button folds, SB calls, Hero (poster) checks.

Flop: ($1, 4 players)
SB checks, Hero checks, MP2 checks, CO checks.

Turn: ($1, 4 players)
SB checks, Hero checks, MP2 checks, CO bets $0.75, SB folds, Hero calls, MP2 calls.

River: ($3.25, 3 players)
Hero checks, MP2 checks, CO bets $2, Hero ?????

You should bet that flop for the reasons TomG mentioned (and don't mind picking it up right there).

On the turn I would check/fold. A made low is out so you're being freerolled in a small pot, get out.