The complex resonance frequencies of conducting spheroids have been obtained by us for both transverse electric (TE) and transverse magnetic (TM) modes, using the

-matrix approach. The resonances originate from a phase matching of repeatedly circumnavigating surface waves, and we develop a quantitative model of this phenomenon. The propagation constants vary continuously during the passage of the waves over the curved surface along a geodesic, depending to first order on the local curvature along the path. This curvature dependence was obtained in a calculation of Franz and Galle in terms of a power series expansion in

, comprising five terms of the series. Using this, we formulate the phase matching as an integral condition over the closed path, in the sense of Fermat\´s principle, and verify that the complex eigenfrequencies as obtained by us earlier indeed satisfy the phase matching condition. This indicates the correctness of both our physical phase-matching model, and of the

-matrix results for the eigenfrequencies.