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I would say that there are two problems you face here:
(1) He only has 500 chips left and isn't all that likely to fold here unless he's really got nothing or a pretty weak hand and you really scare him.
(2) What do you put him on? Half a pot bet is confusing...is that a draw (78/74)? A weak overpair like 77-TT? A pair on the board (67/45)? Or is it the weak when strong trips play?
What types of hands has he lead out with before?
If he's TAG and weak-tight and he's leading out it's most likely a mid-ranged overpair - which he may be willing to ditch if you have convinced him with your (seems effective) move, a slowplayed (preflop) high overpair, or trips in which case you are screwed with few outs.
In general I like it. You either take down a nice pot as he folds, suckout and take a really nice pot and take down a player, or you lose a good chunk of your stack but further enhance your LAG image and get a read on that player for future hands.
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