Paul is praying for:

1) "a spirit of wisdom and revelation" - Paul asks God to give the believers the ability to 
understand what He has done for them through Christ (P.N.T.C., O'Brien, 131).  
This "knowledge" refers to an "experiential understanding" of God (Hoehner, 620).  In 
this phrase, Paul is asking God to help the believers understand who He truly is 
(wisdom), and to disclose knowledge of Himself (revelation).  The goal is for the 
believers to know God more intimately through growing in their relationship with Him.

2) "the hope of His calling" - Paul prays that God will help the believers to intellectually 
understand what "hope" they have since God has called them to be His own through 
Christ.  It is referring to a "pledge of hope; looking forward to the future eternal glory" 
(E.B.C., Wood, 30).  Paul is desiring for these believers to truly understand what God has 
provided for them through Christ; beginning with salvation and ending with the believer's 
inheritance in heaven.

3) "the riches of the glory of His inheritance" - Paul prays for the believers to understand 
that they are God's inheritance through Christ.  Believers are described as 
God's "glorious inheritance" (B.K.C., Hoehner, 620).  Believers are predestined according 
to God's purpose (v. 11), and they are referred to as God's possession (v. 14) (P.N.T.C., 
O'Brien, 135).  These are textual indications that God is the one receiving the 
inheritance.  There is also the grammatical evidence of Paul's phrase, "His inheritance" 
(v. 18).  This seems to indicate that it is indeed God that is inheriting something, in this 
case it is the redeemed.