Like downunderwonder said, that isn't a whole lot of power as far as bass rigs go, but with a sensitive cab and good amount of cone area, (1x15, 2x12, 4x10, maybe 2x10 if it's a good one) should be passable for rehearsals, jams, and small gigs. Two 8 ohm cabs would be better, or maybe a single 4 ohm 2x12, 2x15, or 4x10. An 8x10 would make that 150 watts very big, too.
Cheers mate. I'm hoping to get a used 2x12 to run with this.
It's my bass player friend's old amp and I've heard what it can do - actually puts out more volume than it is rated for imho. We've also used it to record our demo but that is a different story. He was using a 4x10 so that may have something to do with the perceived loudness.