Oilman,
Welcome to the forum. As has been suggested, more info is needed. If you have a solid perimeter of 2-3 ft water @ the pond that keeps water over year round, even in dry years, then you would be be OK. If you were shooting for large bass, you would probably want more spawning ground, but not so much to grow large bluegill. A 1 1/2 ac. pond is more suited to being a bluegill project in my opinion; so the odds are in your favor if that is your goal. If the bottom is sand throughout you may have an issue with extreme water level fluctuations and will most definitely need to add lime to adjust the water quality to allow fertilization. If the water level drops out of the shallow water before a successful bluegill spawn occurs, it will be detrimental. I will send you a PM if you would like to discuss in further detail.

-HH