Exceedingly great - preeminent, the greatest.
Precious - valued, prized, most honored, of high price.
Promises - assurances, the result of the promise.
Lust - unregulated and irregular and undisciplined desire.

Him who is able - ability, willingness, resources.
All that we ask - the seeking of an inferior or a superior.
All that we think - understand, comprehend, consider.
According to - coming down through (power)
Works in - actively producing.