Host is the host that you are trying to reach, trying to access.
Port is the port of that host that you are trying to reach.. That target server listens from that port and you reach it through that port.
See ->
https://ermanarslan.blogspot.com/2015/01/rdbms-acknowledgement-solution-for.htmlAs for the "resolve" -> A database user needs the connect privilege to an external network host computer if he or she is connecting using the UTL_TCP, UTL_HTTP, UTL_SMTP, and UTL_MAIL utility packages. To resolve a host name that was given a host IP address, or the IP address that was given a host name, with the UTL_INADDR package, grant the database user the resolve privilege.
Host: Host to which the ACL is to be assigned. The host can be the name or the IP address of the host. A wildcard can be used to specify a domain or a IP subnet. The host or domain name is case-insensitive.
lower_port :Lower bound of a TCP port range if not NULL
upper_port : Upper bound of a TCP port range. If NULL, lower_port is assumed.
Ref:
https://docs.oracle.com/cd/E18283_01/appdev.112/e16760/d_networkacl_adm.htm , DBMS_NETWORK_ACL_ADMIN