After needing to change the way I carried my surge around the office and posting about it here...
http://forum.multitool.org/index.php/topic,66840.0.html, I arranged a deal with
Gohard to hand make me a leather sheath with a belt clip.
It arrived on Saturday morning and I have been using it ever since. The craftsmanship is excellent, the mounting of the clip means it rides low so you forget it's even there. The snap on the front is crisp and holds securely. Retention inside is just right, with the flap open I can invert the sheath and it doesn't slip out, which is ideal if I ever snag the flap and pop the snap open. I can have piece of mind that I won't lose it (though a surge hitting the floor should make a big enough thump). He even included a holder on the side to carry the bit extension (which now has a pen in it for around the office).
There is only one problem I can foresee... I'm so impressed with it I'm now going to have to get a few more for my other multi's, time to start saving some pennies. Though I have a birthday coming up next month, I know what to drop hints for now.
Thanks Gohard, the sheath is excellent, much appreciated.
Kev