web page Look at this page, 5th down on the second column. This is a very versatile system even though it seems so simple. Most people use the belt loop that is on the back of the sheath. Some just punch a hole in their belt like you described and slide the sheath in between your pants and belt, snapping the frog button into the hole in your belt. The link shows my favorite, which is another piece you wear on your belt by it's own loop. The sheath slides down into it and settles into a notch and the tab snaps on the frog button securing the whole thing.
I like this one because you can get in and out of your vehicle, taking the sheath and knife off, without undoing your belt each time. Lin